• Total net absorption for the Indianapolis market in Q4 2020 was negative 106,809 sq. ft.

• Asking rates in the Indianapolis metro area increased $0.17 to $21.14. Class A asking rates increased by $0.12 and Class B asking rates increased by $0.18.

• The market vacancy rate increased quarter-over-quarter to 19.6%. Class A vacancy rates decreased to 21.9% and Class B increased to 16.7%

• Two new office projects began construction during Q4 2020, totaling 68,848 sq. ft. No projects that were under construction in Q3 2020 completed construction in Q4 2020. Two projects are expected to be completed in Q1 2021.