Year End 17 Office Market Report
INDIANAPOLIS, INDIANA The Market Our Year End Market Report shows continued velocity in the office market. However, there has been a significant decline in net absorption in the suburban markets. Much of this suburban decline can be attributed to larger office user s inability to find attractive, well located, vacant space to occupy. This has lead to a material increase in new build-to-suit construction. Tenants seem to be competing for many of the same employees. Retaining personnel and attracting new talent is the primary focus of these tenants drive to new construction. Couple this new build-to-suit trend, which we expect to continue, and the strength of the CBD office market has made 2017 a very active office market. Fast paced downtown costs for tenants. - - - - Jeff Harris President NAI Meridian *
Total Market Statistics
Office Leasing Absorption: Total Net Absorption for All Markets Mid Year 2017 CBD Absorption/Deliveries/Vacancy Year End 2017 Copyrighted report licensed to NAI Meridian LLC - 546383.
All Classes of Office Space Office Space Statistical Changes Year-over-Year and First Half over Last Half vs. vs. CBD Submarket Year End 2017 Months to Lease Copyrighted report licensed to NAI Meridian LLC - 546383.
Metro Indy Overview Office Leasing Vacancy Rental Rates New Construction Sublease Space Investment Sales Historic Net Absorption Available Space
Methodology Definitions Submarket Map Absorption (Net) Avon All physically unoccupied lease space, either er direct or sublease. Arrangement 267 in which a tenant leases es rental property to another, and the tenant 70nt becomes the landlord d to the Plainfield subtenant. Hendricks County Morgan County Marion County CBD / Downtown Midtown North Meridian / Carmel Mann R Johns son Co ount ty Morg gan Count ty Hamilto on County Boone Co ounty The change in occupied space in a given 421 tim period. Available Square Footage Net rentable 65 area considered Zionsville available for lease; excludes sublease space. Rental Boonerate County as quoted from 465 each building s i owner/ 96th St. management Hendricks County company. For office space, a full service rate was requested; for retail, a triple net ate requested; es for industrial, a NN basis. Rockville Rd. Eagle Creek Indianapolis International Airport Zionsville Rd. 56th St. 74 Space currently yavaila available for lease directly with the landlord or building owner. Market Brownsburg Size 36 334 Average Asking Rental Rate Building Class 136 131st Street 116th Street 86th St. Class s A Product is office space of steel and 71st St. concrete construction, built after 1980, quality tenants, n excele ent amenities & premium rates. Class B product is office space built after 1980, fair to kh good od finishes & wide range of tenants. Direct Vacancy Includes all existing and under construction office buildings (office, office condo, office loft, office medical, all classes se 16th St. and 267 all sizes, both multi-tenant and single-tenant, enant includinging owner-occupied buildings) within each 465market. Overall l Vacancy SF/PSF Square foot/per square foot, used as a unit of measurement. 40 Sublease e Sublease Space Mich higa igan n Rd. 73rd St. Raymond St. White River 67 Total square footage being marketed for lease by the tenant. Sublease Vacancy et tow wn Rd. e orge Geo Airport X-Way Space currently available in the market for sublease with an existing tenant within a building acting as the landlord. 37 nrdrd 146th Street Meridian St. County Line 103rd St. 135 Rd. 31 Carmel t ield Blvd. tf Wes e Greenwood Main St. Rangeline e Rd. Northwest West / Southwest Greenwood e. Keystone Ave Keystone Ave. 31 431 71st St. 126th Street 38th St. River Rd. Emerson Ave. White River 37 Allisonville Rd. Washington St. Beech Grove Southport Rd. 65 465 465 Shadeland a Ave. Fishers Hamilton County Marion County 82nd St. Fall 56th St. Post Rd. 37 Creek 40 74 70 69 67 East / Southeast Keystone Northeast s 36
Year End 17 Indianapolis Office Market Report The world s largest commercial real estate network. Suite 250