Indianapolis Industrial Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cbre, Colliers, CBRE, Cushman & Wakefield
Quarterly industrial market indicators for Indianapolis, aggregated by PropZone from Cbre, Colliers, CBRE, Cushman & Wakefield. As of Q1 2026, average asking rent was $6.35/SF with a 7.0% vacancy rate.
Projected current industrial pricing — Indianapolis
low confidenceProjected asking rent
$6.35/SF/yr
Estimated sale value
$69–$85/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 6.1%, asking rent held flat). Assumes ~93% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $6.35/SF | 7.0% | — | — | Cbre |
| Q1 2026 | — | 7.1% | 35.0M SF | — | Colliers |
| Q1 2026 | $6.35/SF | 6.9% | — | — | CBRE |
| Q1 2026 | — | — | 240K SF | — | Cushman & Wakefield |
| Q4 2025 | — | 3.5% | 0K SF | — | Cushman & Wakefield |
| Q3 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q2 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q4 2020 | — | — | 2K SF | — | Cushman & Wakefield |
| Q3 2020 | — | 7.6% | 200K SF | — | Cushman & Wakefield |
| Q2 2020 | — | — | — | — | Cushman & Wakefield |
| Q1 2020 | — | — | — | — | Cushman & Wakefield |
| Q3 2019 | $25.00/SF | 10.0% | 40.0M SF | — | Colliers |
| Q3 2017 | — | 1.4% | 2.0M SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for industrial space in Indianapolis?
- As of Q1 2026, the average asking rent for industrial space in Indianapolis was $6.35/SF, per Cbre.
- What is the industrial vacancy rate in Indianapolis?
- The industrial vacancy rate in Indianapolis was 7.0% as of Q1 2026 (Cbre).
- Where does PropZone's Indianapolis market data come from?
- This report aggregates quarterly industrial market data for Indianapolis from Cbre, Colliers, CBRE, Cushman & Wakefield.
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