INDIANAPOLIS—Few industrial markets in the US have shown as much strength as Indianapolis, and even though developers built so many specs in response that supply eventually outpaced demand, many companies are now looking for space, and brokers are confident that 2016 will see a lot of absorption.

"The good news is that we are currently tracking about 12 million square feet of active deals in the market," JLL senior vice president Chip Barnes tells GlobeSt.com. Normally, at any one time, companies are looking for about 7 million square feet of industrial space in the metro area. "On the surface it may look like an overbuilt market, but we feel positive that a lot of the vacant space is going to be filled."

That elevated level of demand should help JLL complete its latest leasing assignment. Northwestern Mutual has hired Barnes and JLL executive vice president Jake Sturman to secure tenants for Airwest 12 and 14, two new speculative class A industrial buildings totalling 924,530 square feet in southwest suburban Plainfield. The two-building portfolio, built by the Opus Group, is located at 2301 and 2201 Reeves Rd. Building 12 is 448,305 square feet and Building 14 is 476,225 square feet.