Greater Indy Multifamily Sector Draws Interest from Larger Pool of Investors

Demographic shifts and the subsequent demand for affordable housing are currently impacting the greater Indianapolis multifamily sector, but the most marked influence is increased and expanded investor interest. Demographic shifts in population are influencing developers and owners in their long-term decision making when it comes to the multifamily sector. Two primary factors are at play. One, the traditional renter’s segment is changing as millennials age and delay having children. Two, …

June 13, 2019Indiana, Market Reports, Midwest, Midwest Market Reports, Multifamily

If You Build It, Will They Come? Indy Industrial Tenants Demand Smaller Spaces

Recently, my national research colleagues released “The Top 10 Commercial Real Estate Trends for 2019,” a piece featuring predictions on subjects such as trade tensions, labor shortages and the evolution of “co-everything.” Of all the predictions, one stood out as being especially relevant for the Indianapolis industrial market as we inch further into 2019. Indianapolis has lacked industrial space for occupiers seeking to grow, particularly in smaller segments. The great news is that …

March 14, 2019Indiana, Industrial, Market Reports, Midwest, Midwest Market Reports

The Resilience and Importance of Retail in Indianapolis

While Indiana is well known for the Indianapolis 500, the state’s economy is firing on all cylinders and experiencing noteworthy job growth. Indiana’s marketing campaign, “A State That Works,” has been successful in attracting investment to the state by touting its highly ranked business climate, competitive cost of doing business, pro-business tax climate, low cost of living, extensive logistical infrastructure and access to strong educational systems. In June 2018, Bloomberg …

March 7, 2019Indiana, Market Reports, Midwest, Midwest Market Reports, Retail

Don’t Nap on Naptown: Indianapolis Office Market Is Actively Transforming

You would be hard pressed to find another city more excited about transformation than Indianapolis right now. Previously known as “Naptown” by outsiders due to the sleepy feel the city exuded, those days are long gone. Indy has experienced incredible transformative activity in the past decade, and that extends to the commercial real estate office sector. For the 18th consecutive quarter, this sector has experienced positive net occupancy gains, and 14 of those quarters have fallen …

November 8, 2018Indiana, Market Reports, Midwest, Midwest Market Reports, Office

Multifamily Urban Infill Development Spreads Into the Suburbs of Indianapolis

[caption id="attachment_199576" align="alignright" width="100"] Jonathan Hardy, Bradley Co.[/caption] If you happen to read or listen to Freddie Mac officials, the key economic factor driving housing demand is the labor market. In 2017, the Indiana Economic Development Corp. (IEDC) secured 293 commitments from companies across the country to locate or grow in Indiana. Collectively, this will make for more than $7 billion in new investments and 30,158 new jobs in the coming years, marking …

March 15, 2018Indiana, Market Reports, Midwest, Midwest Market Reports, Multifamily

Driven by E-Commerce, Indy’s Industrial Bulk Market Continues Growth Spurt

In 2017, newly signed bulk space deals in the greater Indianapolis industrial market totaled 10.2 million square feet. Of that total, over 50 percent had some affiliation with e-commerce. [caption id="attachment_198281" align="alignright" width="100"] Michael Weishaar, Cushman & Wakefield[/caption] With 26 new buildings and another 5.7 million square feet under construction, the Indianapolis industrial market will clearly become increasingly linked to the performance of e-commerce as …

March 15, 2018Indiana, Industrial, Market Reports, Midwest, Midwest Market Reports

Northern Suburbs of Indianapolis See Vast Growth in Urban Core Development

The northern suburbs of Indianapolis aren’t just following the latest trend of developing dense urban cores within suburban markets — they’re on the leading edge. In particular, Fishers and Carmel boast flourishing downtown environments that are walkable and bike-friendly. The idea is to develop a core urban area amid the suburban sprawl by creating activities and concepts that serve various community needs such as cool restaurants, shops, office and living space, evening events for …

October 5, 2017Indiana, Market Reports, Midwest, Midwest Market Reports, Retail

Tech Jobs, Population Surge Give Indianapolis Office Market a Big Lift

No matter where you turn in the Indianapolis metro area, there is one common thread — change. From Mile Square to Downtown Fishers to Main Street in Speedway to Fletcher Place, all are nearly unrecognizable from a few years ago, and they are just a sampling of central Indiana commercial districts that are transforming at a rapid pace. Restaurants, retail and mixed-use developments are a big part of this rapid evolution, but the ripple effects on office real estate are taking hold. Tech …

May 18, 2017Indiana, Market Reports, Midwest, Midwest Market Reports, Office

Healthy Apartment Renter Demand in Indianapolis Eclipses Robust Supply Growth

Strong job growth in the second half of 2016, robust tenant absorption of new apartment supply and falling vacancies throughout the Indianapolis metro area supported a markedly improved multifamily marketplace by the end of the year. This year, steady employment gains and rising home prices will continue to bolster apartment property performance metrowide. In the first half of 2016, hiring was sluggish due to a lack of available workers, but ramped up at midyear. By year’s end, area …

May 11, 2017Indiana, Market Reports, Midwest, Midwest Market Reports, Multifamily

Greater Indianapolis Industrial Market Shatters Records

To say that the greater Indianapolis industrial market experienced a historical year in 2016 almost seems trite. By every measure, the city’s industrial records were shattered. Net absorption in 2016—8.3 million square feet—crushed that of previous years. Additionally, 11.2 million square feet of new leases were signed, which is more than the 2014 and 2015 totals combined. And, the market saw its lowest vacancy rate in 36 years at 3 percent – down from 5.8 percent at the end of 2015. …

April 13, 2017Indiana, Industrial, Market Reports, Midwest, Midwest Market Reports