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Indianapolis industrial pipeline retreats after record building surge

Speculative share has been cut nearly in half, but smaller logistics pipeline keeps construction risks in check
Indianapolis, seen here, is positioned to gradually work off its recent supply surge and bring vacancy back toward national norms. (Travis Patton/CoStar)
Indianapolis, seen here, is positioned to gradually work off its recent supply surge and bring vacancy back toward national norms. (Travis Patton/CoStar)
CoStar Analytics
March 11, 2026 | 3:37 P.M.

Indianapolis has spent the past several years at the center of the national industrial construction boom, especially in large logistics properties.

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