Indianapolis is a major Midwest logistics hub with over 60 million square feet of commercial space. The market is anchored by distribution, pharma (Eli Lilly HQ), and professional services. Indiana is one of the most landlord-friendly states for commercial leases.
By Angel Campa, Founder · Updated March 2026
Commercial Space
60M sq ft
Avg Office Rent
$18–$28/sq ft
Vacancy Rate
18%
Avg Lease Term
5–12 years
Indianapolis industrial leases are NNN with standard 3% annual bumps. Office leases are Modified Gross. The pharmaceutical sector drives specialized lab and manufacturing lease provisions.
Indiana Landlord–Tenant Guide
State-specific commercial lease laws, notice periods, and tenant rights for Indiana →
Yes—Indianapolis has one of the most active industrial NNN markets in the Midwest. Standard provisions include annual 3% bumps, tenant-paid CAM with caps, and renewal options at market rate.
A complete reference for commercial lease financial terms. Covers base rent, escalations, NNN vs gross, TI allowances, and percentage rent with examples.
A fully burdened cost analysis of manual lease abstraction by in-house staff, including opportunity cost, error rates, and scalability constraints.
The specific lease data fields required for accurate Juniper Square fund reporting, investor distributions, and portfolio analytics.
Upload your Indianapolis commercial lease PDF and get 125+ structured fields extracted in minutes. Just $20 per lease.
Upload Your Lease