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Indianapolis Market Reports

Indianapolis Office Market

Average Asking Rent (Price/SF)    $16.33
Vacancy Rate (%)       7.0%
Net Absorption (SF) 247,916

The Indianapolis office market continued to grow steadily through the first quarter of 2017, with the Central Business District dethroning the Northside submarkets to regain the title of most popular office market. Vacancy dropped to 7.0%, the lowest rate in over 10 years. Rental rates, which have been increasing in the past year, trended slightly down compared with the fourth quarter of 2016. These rates will likely rebound, however, as record rates are expected this year in many of the submarkets. These trends should continue, as interest rates remain low and companies continue to expand in the Downtown and Northern office markets.

Indianapolis Industrial Market

Average Asking Rent (Price/SF)         $4.01
Vacancy Rate (%)          6.6%
Net Absorption (SF)    459,720

The Indianapolis market continues to push forward with exponential growth in various submarkets, while the most popular submarkets are reaching max occupancy and companies are exploring other parts of the city. This has led to the Central submarkets first negative absorption in over two years. The outlying suburbs are reaping the benefits of the downtrend in the city, with the West markets seeing massive growth.

Indianapolis Office Market Report
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Indianapolis Industrial Market Report
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