Indianapolis industrial market at a glance...
- In Less than two years removed from setting a new standard for annual occupancy growth, Indy stands within earshot of doing it again! With 6.3 million square feet absorbed so far in 2018, the market has already surpassed last year’s total. Deals signed over the past year by tenants new to the area have been a key driver for this growth.
- At less than 5.0 percent, overall vacancy has fallen to a level not yet seen this century. As a result, construction has reached unprecedented levels in order to stay ahead of increasing demand. Over 10 million square feet is currently under construction throughout the MSA. Half of that total broke ground in the third quarter alone!
- This sustained and elevated growth has led to increased investment activity. To date, 26 industrial acquisitions have occurred this year with 10 closing this quarter. Owner-user purchases are also on the rise. 18 user sales have taken place in 2018, a number that beats last year’s mark with three months to spare.
Source: JLL Research