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Office construction hits highest level since 2008

  • ​The Indianapolis office market saw over half a million square feet of new product come online in 2017. This is a 77.0 percent increase over last year and the greatest amount of new construction since the recession.
  • Construction activity occurred across the market, but was concentrated in the northern suburbs. The Northeast added nearly 250,000 square feet to its inventory, while North Meridian/Carmel had 192,000 square feet come online. The largest project delivered this year was Midtown Carmel, a 132,000 square foot build-to-suit for Allied Solutions.
  • Only 115,000 square feet remains under construction with delivery scheduled for next year. Several other projects have been announced, but timelines for these projects have yet to be finalized.​

Source: JLL Research​

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