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 …

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 …

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 …

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. …

Investment by in Indianapolis Office Tower Creates Ripple Effect

Downtown Indianapolis is already feeling the impact of Inc.’s recent decision to lease more than 220,000 square feet for a new regional headquarters in the state’s tallest office building, located at 111 Monument Circle.The firm’s $40 million investment over 10 years includes expansion plans for its regional headquarters as well as changing the name of the 48-story office tower from Chase Tower to Salesforce Tower Indianapolis.This will be one of only four towers in …

College Students, Tech Jobs Are Drivers of Niche Apartment Construction

Growth in the Indianapolis downtown multifamily market is as dynamic as the city itself. Since 2013, 3,000 units have been delivered and leased up rapidly. The vacancy rate registers 4.5 percent in a submarket that historically has seen vacancy rates of around 8 percent. Demand is healthy and growth continues, with another 283 units scheduled for delivery by the end of this year. A unique contributor to this multifamily construction boom is the downtown campus of Indiana University-Purdue …

Why E-Commerce Will Drive Growth of Indianapolis Industrial Market

The greater Indianapolis industrial market has experienced incredible growth over the past three years, and it continues to be one of the most sought-after industrial markets in the country.Supply and demand is the big story in early 2016. Because shovel-ready land is difficult to find, demand for land alternatives is pushing development further and further away from the beltway while simultaneously causing land prices to escalate. Local communities that figure out how to competitively …

Office Development, Tenant Demand Heat Up in Northern Suburbs of Indianapolis

[caption id="attachment_144681" align="alignright" width="100"] Darrin Boyd, Cushman & Wakefield[/caption]The office sector in the northern suburbs of Indianapolis shows clear signs of solid growth and stability with new construction and deeper tenant demand for space, particularly in the Class A segment.A number of factors contribute to this trend, including job growth, availability of land for housing and favorable demographics. Decision-makers live in the northern suburbs along …

Online Retail Sales Spur Growth in Central Indiana’s Industrial Market

[caption id="attachment_140655" align="alignright" width="100"] Michael Weishaar,Cushman & Wakefield[/caption]Consumers’ desire for shopping convenience and lower prices is driving online retail sales up, accounting for 7.2 percent of total U.S. retail sales so far in 2015, according to the U.S. Census Bureau. And that percentage is expected to double by 2020.It’s no wonder that the popularity of online shopping also is spurring growth in the industrial segment of commercial …

Millennials Drive Shift to Experiential Shopping in Indianapolis Retail Market

[caption id="attachment_127840" align="alignright" width="100"] Jacqueline Haynes, DTZ[/caption]The retail market as a whole is shifting to make shopping more experiential amid a recovering economy and the influence of millennials and their shopping demands and interests.Despite the buzz about the popularity of online shopping, less than 10 percent of all retail sales take place via the Internet. According to the International Council of Shopping Centers (ICSC), online retail sales in 2013 …

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