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. From the story: "The city of Indianapolis also will consider tax incentives and funding for infrastructure required for the project, according to IEDC." Why would the City need to consider additional tax incentives when Lowe's has already bought the land and reached an agreement with IEDC to bring the jobs? What that tells me is that the City has already pledged the incentives, unofficially, and they just haven't had time to push it through the MDC yet. Either way, subsidizing $10/hour jobs is going to do nothing toward furthering the Mayor's stated goal of attracting middle and upper-middle class residents to Marion County.

  2. Ron Spencer and the entire staff of Theater on the Square embraced IndyFringe when it came to Mass Ave in 2005. TOTS was not only a venue but Ron and his friends created, presented and appeared in shows which embraced the 'spirit of the fringe'. He's weathered all the storms and kept smiling ... bon voyage and thank you.

  3. Not sure how many sushi restaurants are enough, but there are three that I know of in various parts of downtown proper and all are pretty good.

  4. First off, it's "moron," not "moran." 2nd, YOU don't get to vote on someone else's rights and freedoms that are guaranteed by the US Constitution. That's why this is not a state's rights issue...putting something like this to vote by, well, people like you who are quite clearly intellectually challenged isn't necessary since the 14th amendment has already decided the issue. Which is why Indiana's effort is a wasted one and a waste of money...and will be overturned just like this has in every other state.

  5. Rick, how does granting theright to marry to people choosing to marry same-sex partners harm the lives of those who choose not to? I cannot for the life of me see any harm to people who choose not to marry someone of the same sex. We understand your choice to take the parts of the bible literally in your life. That is fine but why force your religious beliefs on others? I'm hoping the judges do the right thing and declare the ban unconstitutional so all citizens of Wisconsin and Indiana have the same marriage rights and that those who chose someone of the same sex do not have less rights than others.

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