Snapshots

Indianapolis Q3 2019 retail market at a glance…

Power Centers and Shopping Centers have been at the forefront of retail activity in 2019 in terms of both occupancy growth and new deliveries.

October 30, 2019
  • Power Centers and Shopping Centers have been at the forefront of retail activity in 2019 in terms of both occupancy growth and new deliveries. Power Centers have seen more than 250,000 square feet of net absorption and 104,000 square feet of new construction year-to-date. Shopping Centers have achieved nearly 400,000 square feet of net absorption and delivered 43,000 square feet of new construction so far this year.
  • Dining, Big box/Wholesale and Fitness/Wellness are the most active retail sectors by square footage leased through the first nine months of the year. 
  • Sales activity remains consistent and is up year-over year. The average sale price is right around $100 per square foot. The most notable sale closed this quarter was Kite Realty Group Trust’s purchase of Nora Plaza.

Source: JLL Research; CoStar

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