Indianapolis Q4 2019 retail market at a glance…
The Indianapolis retail market achieved more than 700,000 square feet of net absorption in 2019, a strong rebound from the occupancy loss that occurred in 2018. The market has now seen demand outpace supply in three of the last five years.
- A key driver for this year’s growth is the dining sector. Local to national restaurant brands continue to open restaurants across the metro. The opening of the Fishers District in Q4 was particularly noteworthy. Fishers District offers a wide array of dining options along with residential and entertainment components. A similar type project, the Bottleworks District, will be opening next year in Downtown Indy.
- Retail activity was not limited to just dining. Fitness/wellness and entertainment venues such as axe throwing, arcades, and trampoline parks to name a few opened around the MSA. The trend of retail as a destination is not unique to Indianapolis; it is alive and well across the Midwest and the nation.
Source: JLL Research, CoStar