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Indianapolis, IN Office Buildings and Office Spaces

250 Office Buildings & Office Spaces in Indianapolis, IN

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Indianapolis, IN Office Overview

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Indianapolis’ office market includes the Central Nora, Northern Hills, and Park Meridian office submarkets. With a metropolitan population of nearly 2 million people, the metro area commercial real estate market is driven in large part by the health care and insurance industries, creating a strong demand for Class A Indianapolis white-collar office space.

As of mid-2017, the Greater Indianapolis office market encompasses over 36 million square feet of existing office space in properties larger than 50,000 square feet. As the capital of Indiana and the largest city in the State, the area's diversified economy results in a robust demand for office space.

Indianapolis, IN Office Inventory Description

In addition to the health care and insurance industries, financial services, manufacturing and education also contribute heavily to the demand for commercial real estate in Indianapolis. With a gross metropolitan product of over $118 billion annually, there is constant demand for white-collar office space in the Indianapolis metro area. Over 43% of the office space in Indianapolis is Class A or A+, while Class B office inventory adds another 55% of inventory to the office market.

The Castleton office submarket in Indianapolis sees consistently high demand for white-collar Class A office space. Located along both I-69 and I-465 this neighborhood is home to prime office buildings such as 9800 Crosspoint Boulevard, the Castleton Park Building projects, and the One Concourse office building on Crosspoint Boulevard.

Indianapolis, IN Commercial Inventory Breakdown

Office Spaces

Total: 37,335,054 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 12,185,233 SF / 32.64% of total office
  • 100k to 500k SF: 21,636,165 SF / 57.95% of total office
  • 500k to 1M SF: 3,513,656 SF / 9.41% of total office

By class:

  • Class A: 15,817,813 SF / 42.37% of total office
  • Class B: 20,074,057 SF / 53.77% of total office
  • Class C: 713,834 SF / 1.91% of total office

Top 10 Largest Office Buildings

in Indianapolis

Office building Address Sqft Year built
Salesforce Tower 27 East Ohio Street, 46204 957,667 1989
Regions Tower 211 North Pennsylvania Street, 46204 705,292 1971
The OneAmerica Tower 1 American Square, 46282 700,000 1982
PNC Center 101 West Washington Street, 46204 635,697 1976
Market Tower 10 West Market Street, 46204 515,000 1988
BMO Plaza 135 North Pennsylvania Street, 46204 442,000 1988
Market Square Center 151 North Delaware Street, 46204 420,492 1975
500 North Meridian Street 500 North Meridian Street, 46204 400,000 1975
The Pyramids Office Park 3500 Depauw Blvd, 46268 361,261 1970
101 West 103rd Street 101 West 103rd Street, 46290 348,250 1994

Most Recently-Built Office Buildings

in Indianapolis

Office building Address Sqft Year built
River North at Keystone - 8801 River Crossing Blvd 8801 River Crossing Blvd, 46240 102,000 2016
Two Concourse 10194 Crosspoint Blvd, 46256 132,991 2014
Keystone Office Centre - 8335 Keystone Crossing 8335 Keystone Crossing, 46240 80,699 2013
One Concourse 9998 Crosspoint Blvd, 46256 110,000 2010
The Buick 1302 North Meridian Street, 46202 60,000 2010
Madison Plaza 1200 Madison Avenue, 46225 180,000 2008
INTECH Three 6510 North Telecom Drive, 46278 152,230 2008
Woodland Corporate Park - Building VI 7635 Interactive Way, 46278 151,950 2008
Lake Pointe Center V 8415 Allison Pointe Blvd, 46250 150,000 2008
River Road II 9045 River Road, 46240 121,512 2008

Indianapolis, IN Green Office Space

Employment

The 2017 National Green Building Adoption Index looked at office properties in 30 large U.S. metros and found that the percentage of green certification has increased from just under 5% in 2005 to approximately 38%, as of mid-2017. The survey looked an EPA Energy Star, LEED, and green building ratings.

While not yet ranking in the Top 30 Green Office Markets in the U.S., green office space in Indianapolis is growing, with seven LEED-certified projects in place and ongoing development of green buildings throughout the metropolitan area.

The One River Crossing office building at 3815 River Crossing Parkway in Indianapolis is an outstanding example of green building in Indianapolis. Built in 1999, this 121,480-square- foot Class A office property has a LEED Silver certification and is one of the few currently LEED- certified buildings in the metropolitan area.

Indianapolis, IN's Top Office-Using Sectors

A diverse mixture of business and industry including high-technology, manufacturing, and education all contribute to the robust demand for Class A office space in the Indianapolis IN commercial real estate market.

  • High Technology – The high-tech sector is one of the fastest growing in Indianapolis, with companies such as Formstack, Genesys, and Salesforce Marketing Cloud attracted to the qualified work force in the city.
  • Manufacturing – Pharmaceutical companies such as Eli Lilly, hydrocarbon manufacturer Calumet Specialty Products, and transmission manufacturer Allison Transmission all call Indianapolis home.
  • Education – Higher education institutions such as Ball State, Butler University, and Indiana University-Purdue along with the business they attract help to drive demand for Class A office product in Indianapolis.
  • Corporate Offices – The demand for white collar office space in Indianapolis also comes from a diverse mix of companies such as CNO Financial Group, Simon Property Group, Republic Airways, Dow AgroSciences, and Roche Diagnostics.

Indianapolis Demographics

Population

  • Total Population841,449
  • Male Population(48.2 %) 405,843
  • Female Population(51.8 %) 435,606
  • Median Age34.00

Income/Financial

  • Average Household Income$59,003
  • Median Household Income$41,987
  • Median Income Under 25$24,876
  • Median Income 25-44$43,880
  • Median Income 45-64$49,118
  • Median Income Over 65$34,981

Cities near Indianapolis, IN
Cities near Indianapolis, IN