Figures

Indianapolis Industrial Figures Q3 2026

October 8, 2026 5 Minute Read

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  • Vacancy rate continues its five-quarter decline, dropping 50 basis points (bps) quarter over quarter.
  • Even as existing supply tightened, net absorption stayed in positive territory at 2.1 million sq. ft. , down from  3.32 million sq. ft. last quarter and Q4 2025’s spike of 5.99 million sq. ft.
  • 1.8 million sq. ft. of new construction kicked off this quarter to meet both new and existing tenants’ growing demand for space.
  • Fewer vacancies lifted the direct asking rate average by $0.8 or 1.3%.
  • The positive absorption and asking rates, as well as lower vacancy rates, contrast the trend in the preceding five quarters (Q2 2024 to Q2 2025) when the market had few takers for vacant buildings, many of which were newly constructed.