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Indy Market Sees Big Leases Return

INDIANAPOLIS—The region has seen a lot of spec product delivered in the past few years, but a slowdown in leasing made some wonder if it was too much.

By Brian J. Rogal | Updated on October 18, 2015

INDIANAPOLIS—As reported in GlobeSt.com, this burgeoning industrial market has in the last few years attracted a large number of developers. The availability of land, the expansion of e-commerce, the region’s central location and the dense transportation networks all combined to make this one of the nation’s most active markets for new construction. A slowdown in leasing, however, made some wonder whether developers had gotten a bit ahead of the demand.

The latest leasing data provides some measure of comfort. According to CBRE, it has been 17 months since the market has seen a lease of more than 500,000 square feet. But in the third quarter, the firm just reported, two new tenants took more than that.

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