Indianapolis, IN Office Spaces for Rent
Find your best Indianapolis, IN office space among 954 for rent listings, which average an asking price of $23.79 per square foot.
Asking prices vary based on the property location, rating, amenities such as proximity to restaurants, cafes, and entertainment venues, as well as convenience of access to public transport, airports, and thoroughfares.
The average rent for office space in Indianapolis is $23.79 per square foot. The minimum rental rate for office space in Indianapolis is $9 per square foot. Among listings of office space currently available for lease in Indianapolis, the maximum rental rate is $31.98 per square foot.
For more details on Indianapolis office space rent and sales prices, as well as overall market quality and new construction data, see Indianapolis Office Market Trends.
Most experts recommend an average of between 75 and 150 square feet of office space per person. However, it is important to keep in mind that how much office space you ultimately need depends on your activity and how you need to use the space, as much as it does on how many people it should accommodate. If you already know what size office would best suit your needs, use the available space size filter at the top of the search page to focus your search on the best fit for you.
However, there is a variety of differently sized opportunities below that maximum. For your consideration, the median size of an office space for lease in Indianapolis is 4,233 square feet, and the average office space size here is 8,175 square feet.
You can find 954 office listing(s) for lease in Indianapolis, which add up to a total of 8,025,919 square feet. Availability on the market includes a variety of office use types, such as General Office, Medical Office, Creative Office, Flex - Office, Street Retail.
The most common office use type currently available for lease in Indianapolis is General Office, which is offered in 684 or 71.70% of listings. The second-most frequent office use type listed here is Medical Office, which account for 59 or 6.18% of office space currently available. On the other end of the spectrum, the office use type least common among local listings is Freestanding, which is available in 1 listing(s).
You can search 38 office sublease listing(s) in Indianapolis, which amount to a total of 413,461 square feet. Sublease opportunities on the market include General Office, Medical Office, Flex - Office. The Indianapolis neighborhood or submarket with the most sublease listings available is North Meridian.
The best choice of neighborhood for your office space will greatly depend on the elements that are most relevant to your business and your employees. However, a good criterion to start with is to look at the areas of the city that have the highest concentration of office properties, as these areas are generally well connected to transit options and have a good degree of amenity availability.
In Indianapolis, the greatest concentration of office space for lease opportunities is in North Meridian, Castleton, Keystone at The Crossing.
Each individual’s commuting experience will of course be different depending on a number of factors. Check the location description details for the office listings that catch your eye, to get an overview of walkability, access to public transport, the quality of infrastructure dedicated to biking commuters, as well as the proximity to parking facilities, fuel stations, and other essential amenities.
The Indianapolis office market incorporates a mix of properties of various ages, ratings, construction grades, and other quality indicators. Roughly 38.57% of total office space listings in the city are in properties rated Class A. You will find the highest concentration of Class A office space in the North Meridian neighborhood of Indianapolis. Class B office space accounts for 44.34% of spaces listed on the leasing market. The neighborhood with the most Class B office space is Castleton. Class C office space makes up 6.29% of office space available in Indianapolis.
Buildings completed in and since the year 2000 account for 15.2% of office properties in the city and incorporate a total of 2,926,440 square feet. About 6.99% of office space in Indianapolis is in buildings that have been renovated at least once since 2000.
Out of the office space listings currently available in Indianapolis, you can find 51 LEED-certified or LEED-proposed option(s). A total of 5 building(s) here earned a LEED-certification — certification level Gold (1), Silver (3).
There are, of course, a lot of things to factor in when you are looking for office space. Aspects including the accessibility of the location, the quality of the facility, the size of the space, the convenience of nearby amenities, the type and duration of the lease, and of course the cost are all part of the search and decision process. For a quick checklist of what you should take into account when researching the market, consider these seven tips for choosing the best office location for your business. Alternatively, for a comprehensive take on everything to consider when looking for office space, see our in-depth guide to finding office space for small or growing companies. The guide also includes insights from seasoned professionals and can serve as a helpful resource for growing companies, no matter their current size.
Are you looking to lease office space in the vicinity of your current location or in a particular neighborhood of Indianapolis? Using the interactive map, you can easily navigate to your preferred location and customize your search area around a specific point of interest. Select “Radius” from the Search Mode options menu, click on the map to set your search reference point, and expand the radius to select your desired search area. Browse available listings to find the best office space that meets your location, as well as other business needs.
There are a number of factors that make a city attractive for businesses to relocate or expand, as well as for investors to enhance their portfolios through local acquisitions. Among the most important factors to consider are the size and quality of the local office market, which is an essential component of the local economy.
| Building Size Range | Total Square Feet | Share of Total Office |
|---|---|---|
| 50k to 100k Sq. Ft. | 13,957,473 Sq. Ft. | 30.81% |
| 100k to 500k Sq. Ft. | 21,563,940 Sq. Ft. | 47.6% |
| 500k to 1M Sq. Ft. | 4,363,445 Sq. Ft. | 9.63% |
| Class | Total Square Feet | Share of Total Office |
|---|---|---|
| Class A | 15,915,772 Sq. Ft. | 35.14% |
| Class B | 25,310,018 Sq. Ft. | 55.87% |
| Class C | 3,914,500 Sq. Ft. | 8.64% |
Sustained growth of the Indianapolis economy over time has fueled a relatively stable expanse of the greater Indianapolis metropolitan area, which is now home to more than 2 million inhabitants. Historically, manufacturing has been the predominant economic sector in the entire state of Indiana, and this is also true of the Indianapolis metro, which is located within 800 miles of most of the country’s largest consumer markets. Connectivity ensured through extensive highway infrastructure also contributed to the region’s heavy industrialization. Even so, today, it’s the services industry that accounts for most of the economy. And, while manufacturing persists, biological sciences have been the focus of new development here.
Indianapolis office space is home to businesses large and small operating in trade; real estate; insurance and finance; health; community; and educational services. In fact, the local economy has diversified so much throughout the years that, even when faced with a challenging business environment, the city outperforms the rest of the state. Plus, being a highly popular sports and cultural destination only adds to the city’s continued success. From internationally acclaimed museums to the famous yearly motorsport races, the Indianapolis entertainment scene has a lot to offer, contributing greatly to its ability to attract a wide array of investors to the area.
Indianapolis placed among the top 10 choices out the 50 largest U.S. cities we analyzed. The market has seen significant revitalization of its office stock, driven by tenant flight to quality and the evolving demands of today’s workforce.
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