By Jeremy Woods and Gwen Rodenberger, CBRE Indianapolis industrial leasing activity in January may have started as cold as the winter temperatures, but activity has only gotten hotter, even as fall wanes into winter. Indiana at one point called itself the Crossroads of America, and the moniker holds true today. Indianapolis is strategically located in the center of the state, with four major interstates running through it. The city’s businesses also benefit because of the second-largest FedEx hub at its airport. As a result, businesses can easily ship to most of the continental U.S. within three days, minimizing outbound shipping costs. In January, occupiers requiring 1 million square feet of distribution space in Indianapolis would have six first-generation shells (equivalent of 104 football fields) to choose from. If you could live with a bit less space, roughly 900,000 to 975,000 square feet, another three options could be added to the tour (adding an additional 47 football fields). Fast forward just three quarters to today, and five of the nine “mega-bulk” warehouses, as they are aptly named, are 100 percent occupied. Even the most seasoned experts would not have predicted the speed at which these spaces would be absorbed. In these …
