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Searching for Indianapolis office space? OfficeFinder assists business owners in locating the office space they need in Indianapolis and surrounding submarkets – and it’s FREE. Our highly trained staff has special, non-public tools that allow them to quickly match your specific requirements with office space Indianapolis has available, whether you desire office space for rent, lease or purchase.
Input a few facts in the short form on this page and submit it so that a LOCAL Indianapolis OfficeFinder representative can contact you to gather complete details on your needs. Properties are then matched to your needs and you select those to visit. We assist you as you negotiate with property owners, helping you avoid errors that could cost you a great deal of money. We assist you all the way through signing the final papers on the office space you select to secure.
The Indianapolis Office Space Market
The Downtown Indianapolis office space market contains 12 million square feet of office space of which 7 million square feet are considered Class A office space.
The suburban Indianapolis office space markets have in excess of 23 million square feet of which about half are Class A buildings. Some of the major submarkets include Carmel, Keystone, Park 100 and Castleton.
Office vacancy rates in Indianapolis are high, in the upper teens to low twenty percentage range. Conversely rental rates are still low in the low to upper teen range per square foot per year. It is a tenant’s / buyer’s market.
About Indianapolis
Indianapolis is, perhaps, best known as the home of the Indianapolis Motor Speedway where the famous Indianapolis 500 NASCAR race occurs on its 2.5 mile oval racetrack. Located on the west side of Indianapolis, it attracts over 300,000 spectator at the track and over 4 million households on TV.
The Greater Metro Indianapolis population is over 2 million, with 1.7 million specifically in the Indianapolis area, and the area is continuing a strong growth trend. The mean income is within US averages, neither well above nor below average. The metro area’s GDP is nearly $100 million and steadily growing. Indy provides the perfect environment for new or existing businesses to join the growth trend.
Along with that, the Indianapolis cost of living is below the US average with the cost of middle class housing and business property also below the national average, making this a prime location in which to operate your business and reside affordably.
The “Develop Indy” program is designed to attract new and retain existing businesses through local and state incentives. The Develop Indy program focuses on providing assistance on business development, workforce development and real estate. They will take a comprehensive look at your business to learn how they can help you succeed. New businesses being targeted for incentives to locate in Indy include logistics services, advanced manufacturing, digital technology, clean technology, businesses that support the motorsport industry, life sciences and emerging technologies, but the advantages provided by Develop Indy are not limited, even with reasonably low unemployment, there is a strong workforce waiting to staff your company. It can be a great advantage toward your business’s success to locate your business home in Indianapolis office space or a nearby submarket.
If you are looking for office space in Indianapolis, please contact us. We love the opportunity to show you what we can do for you.
Indianapolis Office Space Markets
Useful Statistics for businesses looking for office space in Indianapolis
|
Indianapolis |
IN State |
2020 Estimated Population |
869,387 |
6,696,893 |
Median Age |
34.2 |
37.8 |
Occupied |
184,977 |
1,808,293 |
Owned |
486,765 |
4,654,004 |
Rented |
356,000 |
1,779,399 |
Average Household Size |
2.49 |
2.50 |
Rental Vacancies |
12,463 |
56,651 |
Homeowner Vacancies |
2,793 |
24,425 |
Median Home Value |
$145,200 |
$148,900 |
Median Monthly Rental Cost |
$911 |
$844 |
Median Household Income |
$30,727 |
$30,902 |
Individuals below poverty level |
81,103 |
528,924 |
Educational Attainment: High school graduate |
156,991 |
1,482,396 |
Educational Attainment: Some College |
153,861 |
1,294,565 |
Educational Attainment: Bachelor degree or higher |
118,823 |
770,901 |
Commute |
371,943 |
2,850,534 |
Commute by car, truck or other vehicle - Drive Alone |
333,657 |
2,566,614 |
Commute by car, truck or other vehicle - Carpool |
38,286 |
283,920 |
Use Public Transportation |
6,888 |
27,808 |
Work from Home |
25,107 |
172,758 |