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Office opportunity varies by submarket

  • ​When looking at the quarterly office stats, it can be difficult to compare submarkets and to understand the relationship between asking rents and vacancy rates. But, after plotting them on a graph, you can see how each submarket has different opportunities.
  • Landlords are able to charge a premium in highly desirable submarkets like North Meridian/Carmel and the CBD where available space is more constricted. New construction and capital improvements have pushed rates up further for these submarkets, as well as in Keystone despite its higher vacancy rate.
  • Among the five major submarkets, the Northeast and Northwest provide the best opportunities to find quality space at a more affordable price. Meanwhile, the Greenwood, Midtown, and West/Southwest submarkets provide options for the truly cost-conscious tenant. ​​

Source: JLL Research

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