Indy Industrial Market Keeping Up the Pace

INDIANAPOLIS—In the past several years, this city and the surrounding region have built up a record as one of the hottest industrial markets in the US, with a robust demand and an active cadre of developers. However, the vacancy rate has remained steady at 7.1% in the past year, according to a new report from CBRE. But this is still significantly below the national average, and experts say the current level of vacancy is not a mystery. 

“It’s obviously the result of all the new speculative buildings,” Mark Writt, senior vice president of CBRE, tells GlobeSt.com. “It’s always a tricky thing to know whether prospective tenants will still be in the market when your building is ready, or will they have taken space in existing buildings.”