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Expanding firms flock to downtown

​From January 2016 to May 2017, there were over 25 major office employment announcements (100 jobs or more) in the Indianapolis metro area. In all, the net effect will be 7,100 new jobs added. Assuming that for every 5 employees requires 1,000 square feet of office space, 1.4 million square feet is needed to accommodate this growth.

So far, over half of this total has already been leased (minus and space givebacks from shrinking companies). Most activity has occurred in the CBD. This makes sense as most deals were for tech firms. Downtown is a growing tech hub and is seeing tech companies move into both creative and traditional office towers alike. The other half has been split among the suburbs. Northwest is the second most popular submarket with 20 percent of the activity.

To learn more, check out our blog post on this topic here:

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