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
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.
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
In this edition of Jones Lang LaSalle’s chart of the week you can see the Indianapolis industrial market at a glance. This week’s chart depicts key market indicators and notable lease transactions from Q4. The Indianapolis industrial market continued to grow in 2015, marking the fourth consecutive year that net absorption has increased.
To view past ‘Chart of the Week’… Read More
According to the New York Times, commercial and residential construction has hit a post-recession high. With approx. $1 trillion per year in total spending, commercial construction accounts for almost one half with $450 billion estimated in 2015 spending.
The overall economy is growing at approximately 3% and construction spending is on pace… Read More
JLL announced the completion of five leases totalling 37,116 square feet at Carmel Tech Center, a master-planned business park in the Indianapolis market. JLL represented the landlord, Hendricks Commercial Properties, LLC, in the transactions.
The 209,000-square-foot, three building development is strategically positioned on West Carmel Drive, in the heart of the Carmel, IN submarket. Carmel… Read More
Executive Vice President
As the economy continues to improve and the office market velocity increases, the costs of tenant improvements are significantly increasing as well. This is forcing landlords, looking to lure tenants to their buildings, to provide hefty allowances to accommodate even a standard build out requirement. There are multiple factors causing… Read More
- The Town of Fishers is planning to redevelop their train station site in a $28 million project that is expected to be completed in June. It will be jointly financed by developer, Loftus Robinson, and the township. The new complex will consist of a three-story office and retail building, a 400-space parking garage wrapped with … Read More