Indianapolis, IN – March 14, 2016 – Leasing activity remained robust in the Indianapolis retail market with 477,204 square feet in leases signed, according to CBRE’s Q4 2015 Retail MarketView for Indianapolis. The overall market saw negative 3,365 square feet of net absorption, coming on the heels of an otherwise positive year that saw 310,148 square feet in new occupancy the first three quarters.
“As the first quarter of 2016 unfolds, tenants continue their expansion plans,” said Steve Delaney, first vice president, at CBRE’s Indianapolis office. “Both leasing and sales have continued on a brisk pace so far in 2016, which is an early barometer for a good year ahead.”
Other Highlights from the report include:
- Construction completions were down this quarter with 186,756 square feet delivered, although still higher than the three-year average.
- Capital markets activity was up this quarter with several significant sale transactions.
- Asking and taking rentals were both up quarter-over-quarter with the average starting rate exceeding the average asking rate.
- Vacancy increased to 6.7 percent after declining earlier in the year.
CBRE’s Indianapolis office is a fully-integrated real estate services firm and has been the city’s leader in commercial real estate services since its inception in 1981. For more information, please contact John Merrill, Managing Director.
Click here to download a copy of the report.
If you would like to speak to a CBRE professional, please contact Joe Ludwig at +1 513 369 1305 or joe.ludwig@cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
