Indy Industrial an Unstoppable Engine

Chicago-based HSA Commercial will finish Gateway V, a 262,000-square-foot spec building in Plainfield, IN, by the end of the year.

CHICAGO, INDIANAPOLIS—Seemingly every firm that delivers consumer goods needs to reconstruct or expand their national supply chain, and that demand has made the Indianapolis industrial sector into an unstoppable engine.

In the first half of the year, developers delivered another 2.2 million square feet of space, according to a new industrial insight report from JLL. But those big numbers have been more then matched by demand. Tenants are clamoring for space, and have already absorbed more than 2.9 million square feet in in the first half of 2018, a substantial increase over the first two quarters of 2017 when absorption was only 1.2 million square feet.