ICREX Releases Quarterly Market Statistics

INDIANAPOLIS – The Indiana Commercial Real Estate Exchange (ICREX) has released quarterly market statistics for commercial real estate in Indiana. Owned and operated by the Indiana Commercial Board of REALTORS® (ICBR), ICREX is a state-wide listing and marketing platform powered by more than 400 brokers. The following statistics are for Indiana commercial real estate as recorded in ICREX.

Industrial availability averaged 21.8 million square feet for lease and 25.1 million square feet for sale over the past three months. Listings were on the market for an average of 219 days.

Office availability averaged 5.8 million square feet for lease and 3.4 million square feet for sale over the past three months. This availability has remained consistent over the last two years, averaging 5.7 million square feet and 4.7 million square feet respectively. Listings were on the market for an average of 331 days.

Retail availability averaged 2.5 million square feet for lease and 4.2 million square feet for sale over the past three months. Retail also remained steady over a two year average of 2.7 million square feet for lease and 4.5 million square feet for sale. Listings were on the market for an average of 317 days.

Land availability averaged 48.3 million square feet for lease and 777.7 million square feet for sale across three months. Listings were on market for an average of 535 days. Days on market has more than doubled since the average of 239 days, two years ago.

For more information call 317.328.5259 or email ICREX@myICBR.org.

 

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The Indiana Commercial Board of REALTORS® is a commercial overlay board for commercial real estate professionals.  Its members are dedicated to serving the needs of commercial clients in aspects of brokerage, leasing, appraising, property management, and development.  ICBR has a statewide membership base of more than 700 professionals.  For more information, visit the ICBR website at www.myICBR.org.