INDIANAPOLIS—Like most of the US, the metro area of Indianapolishas continued an economic expansion and is finally nearing itspotential, according to a series of new reports by CassidyTurley. Indianapolis retailers especially have started tosee solid improvements that track with overall US trends. TheConsumer Confidence Index, the researchers pointout, which often predicts increased consumer spending, rose in Juneto its highest level since January 2008, and “as consumption anddemand intensifies over the latter half of the year, leasingactivity will likely accelerate and strengthen an alreadymuch-improved Central Indiana retail market.”

The Indianapolis retail market saw 161,689-square-feet of netabsorption in the second quarter, and greater deal velocity helpedpush overall vacancy down to 6.9%, below the historical average of7.3%, its lowest level since before the recession, Cassidy Turleyfound. Furthermore, this recovery seems to have a broad geographicbase. “Examination of trade area metrics confirms that eleven ofthe fifteen prime trade areas have seen occupancy increase, and alltrade areas have witnessed improved fundamentals so far thisyear.”

And even though malls and power centers have the lowest vacancyrates, it was the neighborhood and community centers that postedthe strongest year-over-year improvements in vacancy.