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 2015, in which… Read More
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 year with 1.2million… 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.
- The Indianapolis Skyline offers one of the best values in the entire United States. With a current average asking rental rate of $20.88 per square foot, full service gross, Indianapolis ranks 3rd out of 43 U.S. Skyline markets.
- The national Skyline average asking rental rate is $36.06 per square foot, full service gross. Meanwhile, the average … Read More
JLL Marketing & Research
Investment activity among Skyline product has picked up steam recently. After a five year period (2007-2011) where no investment activity occurred, 40.0 percent of the Skyline has traded hands in the last three years. The most recent transactions include Regions Tower and Market Tower trading in 2014. These properties total more than 1.2 million… Read More
By James Clark
The video above highlights Indianapolis Star columnist Edward Pierre’s vision for the future of downtown Indianapolis. His 1953 column describes what Indianapolis’s CBD will look like 25 years later, in 1978. Mike Ahern’s evaluation of the article clearly shows that very little of what Mr. Pierre predicted, for better or worse, came… Read More
Our own John Robinson has been a commercial real estate broker in Indianapolis for more than 25 years but, as he writes in an Op-Ed piece published in this week’s Indianapolis Business Journal, there’s something happening downtown that he hasn’t witnessed before: a growing office market.
Robinson writes that “tenants that have never considered a move downtown are now touring buildings there,”… Read More
As was reported recently in The Star, our JLL team of John Robinson, Adam Broderick and Kevin Gillihan has been hired as the exclusive leasing agents for the 20-story office tower at 220 N. Meridian in downtown Indy.
The 558,000-SF building was sold to Akron, Ohio-based Geis Properties by longtime owner AT&T earlier this year. AT&T continues to occupy the majority of space in the building but… Read More