Indianapolis Q2 2019 industrial market at a glance…
With strong fundamentals in place, investment activity is on fire
July 17, 2019
- Net absorption at midyear reached 4.3 million square feet, up almost 1.5 million square feet from Q2 2018. Projections for the second half of the year indicate absorption will almost double to 8.4 million square feet by year-end. This is largely due to several tenants that have or soon will lease 500,000 square feet of space or more.
- This tenant demand combined with a steady supply of new inventory has increased rents. Asking rents are up 2.9 percent since Q1 2019 and 5.2 percent year-over-year. Typically, rents in Indianapolis increase by 1.0 percent if at all.
- With strong fundamentals in place, investment activity is on fire. Nine million square feet already sold in 2019. Another six million square feet is under contract. An additional 13.1 million square feet is being marketed. The average year only sees about 10.0 million square feet traded.
Source: JLL Research