Insatiable appetite for industrial space continues across the United States through 2017. This is true for Indianapolis as well. Healthy consumer spending and buoyant e-commerce sales are driving demand for warehouse and distribution space. This is pushing vacancy rates to a 17-year low and rents through the roof. But demand is outweighing supply and new construction is struggling to keep up. So what’s the story in Indianapolis?Industrial Spec Construction Continues
The Indianapolis Business Journal recently published its annual lists of the top commercial real estate transactions, and JLL was at the top of each list for 2016.Top Office Leases
JLL represented 12 of the largest 25 office leases signed in 2016 (totaling nearly 1.2 million square feet), half of which being in the Top-10. Even more impressively, JLL brokered the Top-5 deals signed in Class A buildings. This is a large increase over… Read More
Whether you’re looking to expand operations, strengthen your brand presence or attract and retain the best talent, you need a partner that can align deep capabilities back to your vision. The focus on space and how that impacts business and work has never been greater. JLL’s Project and Development Services works with you to reach the big aspirations living within every new building, renovation, fit-out or design.
The Indianapolis industrial market wrapped up a record-breaking year with 1.2 million square feet of absorption in the fourth quarter. This brings the year-end total to eight million square feet, the highest level of occupancy growth the market has ever achieved in a single year.Net absorption reaches new historical high
The Indianapolis industrial market wrapped up a record-breaking… Read More
The Indianapolis office market finished 2016 with strong occupancy growth in the CBD, while the suburbs saw continued investment. Thanks to a burgeoning tech scene, downtown Indianapolis achieved more than 100,000 square feet of occupancy growth this year. This is the highest one-year total in more than a decade. Meanwhile, investment in suburban Indianapolis increased over previous years as several office properties traded hands.
Kevin Gillihan, Vice President, JLL
The northeast Indianapolis submarket used to be contained to the Castleton area, however, growth in the last two decades has pushed the boundaries considerably – not only on the map but also in the buildings going up. For example, prior to 2000,… Read More
Brian Seitz, SIOR, Executive Vice President, JLL
Indianapolis was recently ranked as one of the top distribution markets in the country, landing at seventh out of 50 markets that were tracked, according to JLL’s report, The Leaderboard: The Top 18 Distribution Markets in the United States. Due to Indianapolis’ convenient location, unsaturated market and affordability, it is starting to warrant comparisons to the likes of New Jersey, California, Chicago and Dallas. The report… Read More
Leasing, construction and investment activity continues to boost the Indianapolis office market. Our third quarter Office First Look report shows strong numbers across the board. With low vacancy rates and increasing asking rates, Indianapolis continues to attract tenants and investors. Given just one more quarter this year, we anticipate 2016 to go on record as one of the best years post-recession. Check out some of… Read More
JLL’s Indianapolis Office Project Development Services (PDS) completed 46 different projects in 2015 totaling almost $9 million dollars. The projects ranged from small office renovations to 15 new T-Mobile Retail Store openings, and two new buildings. Indianapolis Project Managers were also able to save their clients an average of 260% of the PDS management fee.
I recently came across an article describing some current trends in urban areas around the world. From green spaces to car sharing, it was great to know that Indianapolis is on board with these movements.
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