Indianapolis Q4 2019 industrial market at a glance…
2019 turned out to be a historic year for the Indianapolis industrial market on several fronts.
January 15, 2020
- 2019 turned out to be a historic year for the Indianapolis industrial market on several fronts. Net absorption and completed construction both eclipsed 10.0 million square feet in 2019, shattering previous record highs. Occupancy growth was just under 12.0 million square feet, besting the record set just last year by more than three million square feet! Meanwhile, construction deliveries were up nearly 20.0 percent year-over-year.
- Increased tenant demand along with low vacancy rates keep a steady supply of speculative construction in the pipeline. A robust 13.0 million square feet is currently under construction heading into the new year. Developers continue to seek out and secure sites for future development.
- Perhaps the biggest story of 2019 is the volume of investment activity taking place around metro Indy. From 2016 to 2018, $1.6 billion traded hands. This year alone, an estimated $1.5 billion worth of transactions closed!
Source: JLL Research