Indianapolis office market report

Q4 2023

Indianapolis' office market in Q4 faced declining demand as it has for most of 2023. Despite expectations for continued softened demand, limited development activity helped keep vacancy rates slightly below the national average. Certain suburban areas like the Carmel submarket continued to perform well.

-50 bps

Vacancy rate

Decrease in the market-wide vacancy rate since last quarter. Vacancy rates have remained relatively stable since mid-year 2022.

1.68 msf

Leasing activity

Total market leasing activity in 2023. This is a 9.7% decrease from 2022 totals.

820 ksf

Sublet availability

Sublet availability across the market. This amount has decreased for two straight quarters.

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Get in-depth office market reports and insights from commercial real estate experts in the Greater Indianapolis area. Avison Young advisors look at Indianapolis commercial real estate activities and the latest Indianapolis statistics to provide you expert market research on Indianapolis' office properties.

Explore different topics like the latest office market pricing trends and analysis of Indianapolis' current office real estate market conditions. Gain a better understanding of Indianapolis' office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Indianapolis' competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Indianapolis.

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