Q3 2025 Indianapolis Industrial Market Report

The Indianapolis commercial real estate market experienced mixed conditions in Q3 2025, with the office and industrial sectors trending in opposite directions. Overall, the data reflects continued challenges in the office market, while industrial properties remain comparatively strong and stable.

The industrial market showed stronger fundamentals during the quarter. Average asking rents increased slightly to $6.00 per square foot, and the vacancy rate declined to 9.7%. The decrease in vacancy highlights sustained demand for industrial space across the Indianapolis area, supported by logistics, distribution, and manufacturing users.

In summary, Q3 2025 results indicate that the industrial sector continues to demonstrate resilience with steady rent growth and improving occupancy.