The Indy industrial market continued to grow this quarter. Net absorption has already surpassed last year’s total and completed construction is closing in on last year’s total.

1. Indianapolis
Chart of the week: October 12, 2015
Source: JLL Research
• The Indianapolis industrial market continued to grow during the third quarter. Net absorption for the year
has already surpassed last year’s total and completed construction is closing in on last year’s total.
• Leasing activity picked up as well with several large new leases and renewals signed during the third
quarter. Tenant demand remains strong with more than 12 million square feet of active requirements
currently in the market for industrial space.
Continued growth drives industrial market
Key market indicators
Supply Q/Q chg
Inventory 236,953,885 s.f.
Total vacancy rate 8.0%
Total availability rate 10.6%
Q3 2015 completed construction 989,400 s.f.
YTD completed construction 4,987,793 s.f.
Under construction 3,322,565 s.f.
Demand
Q3 2015 net absorption 662,491 s.f.
YTD net absorption 4,726,086 s.f.
Pricing
Overall asking rent $3.50 p.s.f.
Bulk/distribution asking rent $3.25 p.s.f.
Mid-sized warehouse asking rent $4.48 p.s.f.
Q3 Notable lease transactions
Tenant Type s.f.
Full Beauty Brand Renewal 741,221
Chewy.com New lease 597,844
Vroom.com New lease 501,120
Whirlpool Renewal 424,828
OHL Renewal 379,332
OHL New lease 321,627
Heartland Food Products Group Renewal 309,600
International Paper New lease 262,640
Langham Logistics New lease 240,000
MD Logistics New lease 173,430
Xpedx Renewal 144,000
Mascot Truck Parts, Inc. New lease 134,631