Q1 2020 Market Research

Q1 2020 Indianapolis Market Research

Before the COVID-19 outbreak in the U.S., economic activity in Indiana was strong. Though the majority of demand came from build-to-suit projects for large single tenants, multi-tenant activity picked up in 2020.

As we are all impacted by the global COVID-19 pandemic, the economy and the office leasing market will change. Cresa is dedicated to helping our clients navigate through these challenging times.

The Greater Indianapolis office market’s vacancy increased to 18.6%. Net absorption is negative at approximately -112K square feet.

The Greater Indianapolis industrial market’s vacancy dropped slightly to 4.2%. Approximately 790K square feet of industrial space was delivered this quarter, with 500K square feet currently under construction. Net absorption is positive at approximately 607K square feet.