Mile Square (Downtown) is a trophy-tier Class A submarket of Indianapolis with average asking rent around $32/sqft/yr.
Indianapolis's legacy trophy core. · Tier: trophy · Avg rent: $32/sqft/yr
The Mile Square — the original 1821 Indianapolis grid — anchors the city's deepest legacy Class A market. Salesforce Tower, Chase Tower, and OneAmerica Tower define the trophy tier.
Banking, insurance, professional services, law firms, government.
15–40,000 sqft floor plates available across newer Class A stock; 9'+ slab-to-slab and modern MEP common.
Red Line BRT, IndyGo bus.
Multi-modal transit captures the metro's principal professional catchment.
Monument Circle, Indiana Repertory Theatre, Circle Centre Mall.
Mile Square (Downtown) is one of 5 Class A submarkets we cover in Indianapolis, classified as trophy tier with an average asking rent around $32/sqft/yr. Compared with the broader Indianapolis Class A stock, Mile Square (Downtown) typically attracts Banking, insurance, professional services, law firms, government and competes most directly with the city's other trophy submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Mile Square (Downtown): Mass Ave / Bottleworks, Carmel, Fishers, Keystone Crossing. The full Indianapolis submarket atlas is at /cities/indianapolis.
For an institutional Class A occupier evaluating Mile Square (Downtown), the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Indianapolis Class A leasing and to the trophy tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.