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Pace of Demand Remains Strong for Indy’s New Industrial Builds

While Chicago is the leading Midwest hub for industrial, by no means is it the region’s only center for tenant demand. Avison Young cites Indianapolis as an industrial powerhouse, especially in terms of development.

The firm reports that nearly 7.4 million square feet was added over the 12 months that ended March 31, with more than 5.2 million square feet in the pipeline. “The demand for modern distribution space continues at a strong pace, as Indianapolis has become a central hub for e-commerce and other distribution activity,” said Sean McHale, an Avison Young principal in Indianapolis.

Elsewhere in the region, Cleveland’s overall industrial vacancy tightened to 3.9% in the first quarter. “Existing product is scarce, leading to a flurry of speculative development and build-to-suit projects,” according to Avison Young. And the resurgence of auto manufacturing in Detroit means a requirement for “lots of new industrial space.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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