Indianapolis retail market at a glance…
The Indianapolis retail market saw strong leasing activity to begin 2019.
April 16, 2019
- The Indianapolis retail market saw strong leasing activity to begin 2019. Some of the noteworthy deals include Shake Shack signing on for its first Indy location at Indianapolis International Airport as the airport undergoes a retail refresh. Additionally, Saraga International Market and Aldi will backfill portions of shuttered Target and Marsh big boxes in Castleton later this year.
- Since CBD oil became legal to buy and sell in Indiana in early 2018, a growing trend has been the rising number of cannabis shops sprouting up in area malls and strip centers. Seventh Sense CBD, Naturely CBD and Your CBD Store are just a few examples.
- This increase in activity enabled the market to undo the occupancy loss that occurred in 2018. As a result, overall retail occupancy is approaching 95.0 percent. No wonder the current retail pipeline is double that of last year.
Source: JLL Research