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Indianapolis industrial market at a glance…

• The market started 2018 off strong, posting 1.3 million square feet of net absorption this quarter. This is three times the total achieved during first quarter 2017 and falls just shy of the 1.6 million square feet reached in 2016.

• Thanks to deals signed recently by tenants that have yet to take occupancy, the market is set up for sustained growth throughout the remainder of the year. Based on current leasing velocity, a fourth consecutive year of at least five million square feet of net absorption seems like a safe bet.

• To help keep up with this demand, developers are prepared to bring additional inventory to the market. 3.5 million square feet of speculative construction is already underway. Another four million square feet remains in the pipeline. Half could break ground in the coming months.

Source: JLL Research

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