After setting a new historical high for net absorption last year, the market is on pace to set a new benchmark for construction this year. There is 6.8 million square feet still under construction with completion by year-end. This total alone would be record-breaking for a single year. But it will shatter the previous mark by several million square feet when combined with the 2.5… Read More
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
JLL Indianapolis is always touting the advantages of the area with our clients and colleagues. The region is receiving its own fair share of news coverage and accolades for being the best of the best. Indiana, and Indianapolis in particular, is no longer a flyover state, but most of all, don’t just take our word for it. Here is why Indianapolis tops our list and why others are taking notice.Live
People… Read More
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
By Jake Sturman
Jones Lang LaSalle
Our team has determined there is currently 3.5 million SF of spec industrial space being built here, and, luckily for Indianapolis, it looks like much of this product will be filled before Q1 2014.
Chicago is the only city with more spec activity in the Midwest, with 7 million SF in the past 12 months.
Here are some… Read More
- Indiana’s exports in 2012 totaled $34.4 billion, a new record in statewide exports, equating to $94.3 million per day. The state’s growth rate of 6.6 percent exceeded the Midwest (6.1 percent) and the nation (4.4 percent).
- Indiana’s top export trading partner is with Canada ($11.9 billion), which grew by 0.4 percent since 2011 largely due increased demand for … Read More
By Steve Schwegman
Senior Vice President
Jones Lang LaSalle
One of the most critical decisions facing an owner of industrial real estate is choosing a broker to market a vacant building for sale or lease. After all, driving the highest value in the shortest time is imperative to the return on investment. Carefully selecting the right broker will… Read More
- As the industrial distribution of hub of Indianapolis, the workday population in Plainfield, near the international airport, surges by 24 percent.
- Downtown Indianapolis operates as the center of the office market which sees its daytime population increase to 949,000 people as workers in the business and professional services, technology and government commute in from the south and northeast.
- Cities like Noblesville, Fishers and Greenwood see drops in population during the day. However, I-65 and I-69 experience … Read More
Earlier this month — in the run-up to the 2013 Indy 500 — our JLL Indy team hosted our second-ever Midwest Crossroads Connections event, which brought together more than 100 office and industrial real estate owners and brokers from across the Midwest for two-days of networking, education and fun times.
The agenda included a bus tour of local properties, a dinner event in downtown Indianapolis and a day at the Indianapolis Motor Speedway.
Watch the slideshow… Read More
As was reported in The Star earlier this week, our JLL Industrial team continued their recent streak of getting results for their investor clients, by successfully leasing a 25,300-SF space at Pinchal & Co.’s Park 100 industrial complex.
The new tenant is Reading Bakery Systems, a leading manufacturer of baking equipment for the food services industry. (Their automated dough handling system is pictured above.)
JLL’s Chip Barnes and Jake Sturman completed the deal.… Read More