History

The Precedent Companies is a family of related businesses encompassing all facets of the commercial and residential real estate industry.  Founded over 40 years ago by Howard "Pete" Peterson, The Precedent Companies is a story of success earned the old-fashioned way.  It is a story of people, hard work, risk taking, and solid business practices.

In 1966, Pete purchased land in northeast Indianapolis and started developing Castleton Commercial Park. Between 1967 and 1985, Pete and his son Tim built, managed and leased 1,300,000 square feet of office and mixed use space in fifty buildings. In 1985, the park was sold in what was reported at the time to be the largest single private real estate transaction in Indiana history.

Building on the success of Castleton Commercial Park, Pete and Tim Peterson began development at 96th Street and Keystone Avenue, calling the new venture, “The Precedent Office Park”.  At this point, Pete retired and turned the business over to his five children who formed The Precedent.  In the fifteen years that followed, the family business grew as did the Park. In 1998, The Precedent Office Park was sold, allowing the family to expand its interests.

Beginning in the mid 1980’s The Precedent began to diversify within the real estate industry.  Between 1986 and 1996 the company formed several new real estate entities.  These included:

Precedent Residential Development, a development company servicing both the production housing market as well as high end custom neighborhoods. To date, Precedent Residential Development has developed over 7,000 residential lots in and around central Indiana.

Precedent Commercial Development, a company focusing primarily on industrial and warehouse development.  Currently, Precedent Commercial is operating two large commercial parks;  Precedent South Business Center, a 400 acre commercial/industrial park in Greenwood and Mt. Comfort Commercial Park, a 500+ acre complex on the east side of Indianapolis in Greenfield just across from the Mt. Comfort Airport.

Precedent Real Estate Services, a full service brokerage and property management company.

Precedent Homes, a semi-custom home builder offering low maintenance and single family homes in Hamilton County.

In late 1996, The Precedent Companies, LLC was created as the umbrella company uniting the various real estate entities within The Precedent family.

The Precedent Companies has been operating in central Indiana with a reputation for innovation and responsiveness to client needs.  Outstanding results make the company shine as an example of quality and leadership in the industry.  Today, the entities of The Precedent Companies have combined to achieve great success in commercial and residential real estate development and title services, never losing sight of the byline that started the company; “Built on Integrity and Performance”.