Snapshots

Indianapolis industrial market one of fastest growing in the United States at midpoint of 2019

The Indianapolis industrial market posted top-10 national rankings in terms of both net absorption and square footage under construction through the first six months of the year.

August 28, 2019
  • The Indianapolis industrial market posted top-10 national rankings in terms of both net absorption and square footage under construction through the first six months of the year. This is out of 50 U.S. industrial markets currently being tracked by JLL Research. 
  • YTD net absorption is 1.4 million square feet higher than last year’s Q2 total. But the largest difference comes in regards to the amount under construction. Industrial development is up nearly four million square feet year-over-year! No slowdown is in sight with even more projects breaking ground since the end of June. With vacancy currently below five percent, the majority of this construction is speculative in nature.
  • Even with all this demand, Indianapolis remains one of the most affordable markets in the nation. At an average of $3.84 NNN per square foot, Indy has the fourth lowest asking rates in the United States.

Source: JLL Research

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