Report: Outlook bullish for Indy industrial development

January 10, 2013
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Green Parke PlainfieldExpect to see more big distribution centers in the Indianapolis area as you drive around town or come in for a landing at Indianapolis International Airport. Indianapolis is leading the Midwest in industrial square footage under construction, thanks in large part to recovery in the housing and auto industries, booming online retail sales and a decades-low industrial vacancy rate of 3.3 percent, the real estate brokerage Cassidy Turley says in its annual State of Real Estate report. Cassidy says 3.2 millon square feet are under construction, putting Indianapolis well ahead in speculative development compared to nearby cities including Chicago (1.7 million square feet), Cincinnati (900,000 square feet) and Minneapolis (350,000 square feet). Projects under construction include a 795,000-square foot project in AmeriPlex by Atlanta-based Industrial Developments International, a 771,000-square-foot warehouse in GreenParke in Plainfield by Chicago-based Verus Partners (shown above), and a 622,000-square-foot project on Ronald Reagan Parkway by ProLogis and locally based Browning Investments.

Interested in Cassidy's outlook for retail, office and investment real estate? Check out IBJ's full State of Real Estate story.

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  • So why the 7% Online Tax?
    So we are going to kill part of the economic growth by expediting the levying of the 7% one retail tax? What doesnt our elected officials understand? So they want to kill off our businesses and put more burdeon our our citizens with 7%. Forest Gump said it best.

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  1. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....

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