Chris Carmen / September 15, 2016
As if Indy couldn’t get more recognition for being a rapidly growing tech hub, a report released by Jones Lang LaSalle IP Inc (JLL) ranked the city 10th in the top 15 markets for tech leasing. Due to the talent pool and lower cost of business, Indianapolis is turning the heads of tech companies from coast to coast.
The Indiana Business Journal highlighted JLL’s report in their article, Indy cracks top 10 for tech-firm office deals, noting the city’s tech companies leases totaled under 985,000 square feet from the third quarter of 2015 to the second quarter of 2016. This amount of square footage is not surprising, seeing as Salesforce’s lease downtown makes up almost a third of that number.
Indianapolis also notably ranked #1 in the cost category, which considered the “average cost of office space per square foot in each market, labor costs, the average cost of an apartment, and the premium on urban apartment rents”. The fact that Indianapolis continues to rank so efficiently in cost is getting the attention of recent college graduates with technology degrees, desiring an affordable, rising city to begin their career. The city ranked #22 overall with the categories being economic momentum, talent pool, innovation, and cost.
https://carmenrealestate.com/tenant-resources/the-new-commercial-real-estate-manifesto/
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