Indianapolis Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, Colliers, Cresa, Avison Young, JLL, Lee & Associates
Quarterly industrial market indicators for Indianapolis, aggregated by CREhunt from Cushman & Wakefield, CBRE, Colliers, Cresa, Avison Young, JLL, Lee & Associates. As of Q2 2026, average asking rent was $6.31/SF/yr and vacancy was 6.0%, per Cushman & Wakefield.
Projected current industrial pricing — Indianapolis
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 multiple brokerages data (cap rate 6.1%, asking rent trend-adjusted to today). Assumes ~94% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $6.31/SF/yr | 6.0% | 7.8M SF | — | Cushman & Wakefield |
| Q2 2026 CBRE | $6.43/SF/yr | 5.9% | 3.1M SF | — | CBRE |
| Q1 2026 CBRE | $6.35/SF/yr | 6.9% | — | — | CBRE |
| Q1 2026 Colliers | — | 7.1% | 35.0M SF | — | Colliers |
| Q1 2026 Cresa | — | 7.0% | — | — | Cresa |
| Q1 2026 Avison Young | $6.44/SF/yr | 8.3% | 2.4M SF | — | Avison Young |
| Q1 2026 CBRE | $6.35/SF/yr | 7.0% | — | — | CBRE |
| Q1 2026 JLL | $5.92/SF/yr | 7.1% | 3.9M SF | — | JLL |
| Q1 2026 Cushman & Wakefield | $6.15/SF/yr | 7.2% | 3.3M SF | — | Cushman & Wakefield |
| Q4 2025 Cresa | $6.20/SF/yr | 8.0% | 9.8M SF | — | Cresa |
| Q4 2025 Cushman & Wakefield | $6.16/SF/yr | 7.6% | 13.7M SF | — | Cushman & Wakefield |
| Q4 2025 Lee & Associates | $7.66/SF/yr | 8.2% | 9.2M SF | — | Lee & Associates |
| Q3 2025 Cushman & Wakefield | $5.93/SF/yr | 9.0% | — | — | Cushman & Wakefield |
| Q2 2025 Cushman & Wakefield | $5.97/SF/yr | 10.4% | — | — | Cushman & Wakefield |
| Q4 2024 Cushman & Wakefield | $5.98/SF/yr | 10.8% | 2.0M SF | — | Cushman & Wakefield |
| Q4 2023 Cushman & Wakefield | $6.37/SF/yr | 9.9% | 598K SF | — | Cushman & Wakefield |
| Q4 2020 Cushman & Wakefield | $4.64/SF/yr | 5.3% | 10.3M SF | — | Cushman & Wakefield |
| Q3 2020 Cushman & Wakefield | $4.64/SF/yr | 5.2% | — | — | Cushman & Wakefield |
| Q2 2020 Cushman & Wakefield | $4.55/SF/yr | 4.4% | 3.1M SF | — | Cushman & Wakefield |
| Q1 2020 Cushman & Wakefield | $4.58/SF/yr | 4.3% | 649K SF | — | Cushman & Wakefield |
| Q3 2019 Colliers | $25.00/SF/yr | 10.0% | 40.0M SF | — | Colliers |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Indianapolis industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| CBD | $7.53/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Downtown | $7.50/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| East | $5.96/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| North | $10.87/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northeast | $9.64/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northwest | $7.60/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South | $5.59/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southeast | $6.32/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southwest | $6.04/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| West | $7.43/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Indianapolis industrial did not fully agree. On vacancy, the sources span 0.1 points — from 5.9% (CBRE) to 6.0% (Cushman & Wakefield). Asking-rent estimates differ by $0.12/SF/yr — from $6.31/SF/yr to $6.43/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 5.9% | $6.43/SF/yr | — |
| Cushman & Wakefield | 6.0% | $6.31/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Indianapolis?
- As of Q2 2026, the average asking rent for industrial space in Indianapolis was $6.31/SF/yr, per Cushman & Wakefield.
- What is the industrial vacancy rate in Indianapolis?
- The industrial vacancy rate in Indianapolis was 6.0% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Indianapolis market data come from?
- This report aggregates quarterly industrial market data for Indianapolis from Cushman & Wakefield, CBRE, Colliers, Cresa, Avison Young, JLL, Lee & Associates.
- How much do brokerage estimates differ for industrial space in Indianapolis?
- For Q2 2026, the brokerage sources CREhunt aggregates for Indianapolis did not fully agree. On vacancy, the sources span 0.1 points — from 5.9% (CBRE) to 6.0% (Cushman & Wakefield). Asking-rent estimates differ by $0.12/SF/yr — from $6.31/SF/yr to $6.43/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.