Intelligence

Regional Summaries

Select a state to view available market snapshots

Indianapolis, IN

Apartment
The 120,560-unit Indianapolis apartment market vacancy rate fell 50 basis points during 2016 to 5.3%. It was down 10 during the fourth quarter, with 608 new apartments completed and 635 absorbed. It edged up to 5.5% in January 2017. Rent gains also peaked in 2016, as both the average asking rent and the average effective rent rose 3.4% over the year and 0.4% during the fourth quarter to $809 and $776 per month, respectively. Overall rents increased a strong 0.4% by both measures in January 2017 alone. VIEW APARTMENT LISTINGS >
Industrial
The 132.8-million-square-foot Indianapolis warehouse/distribution market didn’t get any speculative new supply within established Reis submarkets in 2016, according to Reis, but it still had 454,000 square feet of net absorption, thanks to 514,000 during the fourth quarter. The vacancy rate fell 40 basis points during the quarter and during the year to 10.6%. The average asking rent was up 1.2% over the year to $4.06 psf, with the average effective rent up 1.4% to $3.69 psf. The fourth quarter increase was 0.5% by both measures, the largest of the year. The vacancy rate was 10.5% in January 2017, with rents unchanged that month. The 14.8-million-square-foot Indianapolis Flex/R&D market added 31,000 square feet in 2016 and had 297,000 square feet of net absorption including 204,000 during the fourth quarter. The vacancy rate fell 180 basis points over the year and 140 for the quarter alone to 16.1%. Rents increased 1.2% by both measures over the year to $6.93 psf asking and $6.00 psf effective. The fourth quarter gain was 0.3% by both measures. The vacancy rate was 16.0% in January 2017, the average asking rent increased 0.1%, and the average effective rent increased 0.2% that month. VIEW INDUSTRIAL LISTINGS >
Office
The 33-million-square-foot Indianapolis general purpose, multi-tenant office market continues to be pressured by new owner-occupied buildings, limiting the decrease in vacancy despite the expansion of the economy. The overall vacancy rate decreased 30 basis points over the year and 60 during the fourth quarter to a still-high 19.0%. The rate was 18.8% in January 2017. In 2016, the average asking rent increased 1.1% to $18.53 psf, and the average effective rent increased 1.2% to $14.76 psf. The fourth quarter gains were just 0.1% and 0.2%, respectively. Overall rents increased 0.1% by both measures in January 2017. VIEW OFFICE LISTINGS >
Retail
The 18.2-million-square-foot metro Indianapolis community-neighborhood shopping center market continues to benefit from limited new supply. Just 50,000 square feet was added in 2016, but net absorption totaled 236,000 square feet including 97,000 during the fourth quarter. The vacancy rate ended 2016 at 13.8%, still elevated but down 100 basis points over the year and 30 for the fourth quarter alone. The average asking rent increased 1.8% over the year to $15.35 psf, with the average effective rent up 1.9% to $13.20 psf. During the fourth quarter, however rents fell 0.2% by both measures. The community-neighborhood shopping center market vacancy rate increased 50 basis points in January 2017, and the average asking rent slipped 0.1%. VIEW RETAIL LISTINGS >

More from our Local Market Experts About IN

Source: Data provided by Reis, inc.

Commercial Real Estate Market Information

Coldwell Banker Commercial has commercial real estate market statistics to help you find out more about your local commercial real estate market. Whether you are looking for commercial real estate market trends or information on a commercial real estate markets size, we have the commercial real estate market reports you need.Get the information you need to make wise commercial real estate decisions by checking out our commercial real estate market reports. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers

 

     

Additional Resources