Market Trends Q1 2024

Commercial Real Estate Market Trends for 1st Quarter 2024

Welcome to our page offering up-to-date quarterly reports on the office and industrial real estate sectors in St. Joseph County, Elkhart County, and the Indianapolis market. Stay informed with the latest data on vacancy, cap, and lease rates, lease availability and construction updates. Whether you’re tracking trends in South Bend, Goshen, Elkhart, or Indianapolis, our detailed reports provide valuable insights into the local commercial real estate landscapes. Check back regularly for the most current information to guide your investment decisions and strategic planning efforts.

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ST. JOSEPH COUNTY, INDIANA

St. Joseph County, Indiana, is a vibrant area renowned for its blend of urban amenities and natural beauty. Home to the city of South Bend, it offers a rich history intertwined with modern advancements. St. Joseph County boasts a diverse economy supported by sectors like education, healthcare, manufacturing, and technology. Residents and visitors alike enjoy a variety of cultural attractions to parks and recreational areas along the scenic St. Joseph River.

Q1 Office Stats

Q1 Industrial Stats

ELKHART COUNTY, INDIANA

Elkhart County, Indiana, is celebrated for its industrious spirit and cultural diversity. Located in the northern part of the state, it is renowned as the “RV Capital of the World,” hosting numerous manufacturers that produce recreational vehicles. The county’s economy is also bolstered by manufacturing, healthcare, and retail sectors. Elkhart County is characterized by its picturesque countryside, dotted with Amish farms and quaint communities.

Q1 Office Stats

Q1 Industrial Stats

INDIANAPOLIS, INDIANA METRO AREA

The Indianapolis metropolitan area, often referred to as the Crossroads of America, is a bustling hub of culture, commerce, and sports in the heart of Indiana. Anchored by the state’s capital city, Indianapolis, the metro area is known for its vibrant downtown district with a skyline dominated by the iconic Monument Circle and the renowned Indianapolis Motor Speedway. The metro area encompasses surrounding communities known for their historic charm, recreational opportunities, and growing industries in technology, healthcare, and education.

Q1 Office Stats

Q1 Industrial Stats

Source: CoStar. CoStar data is a snapshot of what information is available at that time. Data is constantly changing throughout the year due to their reverification process. The industrial buildings are no longer classified by property subtype in real time. They are marked as “industrial” until they are occupied by a specific user.