Figures

Indianapolis Industrial Figures Q4 2025

Indianapolis Vacancy Contracts at Record Pace

January 9, 2026 5 Minute Read

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—Indianapolis industrial vacancy continues to contract at record pace as tenants rush to secure space and only smaller spec spaces are being built.

—Vacancy experienced significant contraction, decreasing to 8.2%, down from 11.5% in Q1 2025. RUSH Logistics, Faith Technologies and Hyster-Yale Materials Handling were among those signing new leases.

—Of the 2.7 million sq. ft. construction underway, 75%, of the space is pre-leased. The largest pre-leased space is the 1.5 million sq. ft. building for HarperCollins in the West submarket. Construction should finish by year-end 2026.

—The Southeast and East submarkets have the highest vacancy rates at 19.2% and 16.4%, respectively due to tenants’ desire to be in the western submarkets. The largest move-out is Landsberg Orora, which vacated its 100,000 sq. ft. BTS in Mt Comfort in the East submarket. The Northeast and North have the lowest, below 4%.

—Asking rates rose $0.21 from $6.03 in Q3 2025 as demand has increased.