How many Class A submarkets are in Indianapolis?

5, ranging from trophy (Mile Square (Downtown)) down to established and emerging clusters.

Indianapolis has 5 distinct Class A submarkets we track, anchored by Mile Square (Downtown) at the trophy tier.

5 submarkets covered.
Trophy tier: Mile Square (Downtown), Carmel.
Prime tier: Mass Ave / Bottleworks, Fishers.
Established/emerging tier: Keystone Crossing.

Indianapolis Class A submarkets

Indianapolis has 5 distinct Class A submarkets we track, anchored by Mile Square (Downtown) at the trophy tier.

TL;DR

5 submarkets covered.
Trophy tier: Mile Square (Downtown), Carmel.
Prime tier: Mass Ave / Bottleworks, Fishers.
Established/emerging tier: Keystone Crossing.

By tier

**Mile Square (Downtown)** (trophy, ~$32/sqft/yr) — Indianapolis's legacy trophy core. **Mass Ave / Bottleworks** (prime, ~$30/sqft/yr) — Repositioned creative-class submarket. **Carmel** (trophy, ~$30/sqft/yr) — Premier suburban post-2018 Class A frontier. **Fishers** (prime, ~$28/sqft/yr) — Tech-tilted suburban submarket. **Keystone Crossing** (established, ~$26/sqft/yr) — Suburban Class A spine.

Key facts

city	Indianapolis
country	United States
region	Americas
classARentLocal	26 USD/sqft/yr
classARentUsd	$26/sqft/yr
vacancy	19.2%
typicalLeaseYears	10
typicalRentFreeMonths	12
submarkets	5
primeYieldPct	7.4%
trophyCount	2
primeCount	2

Frequently asked questions

How many Class A submarkets are in Indianapolis?: 5, ranging from trophy (Mile Square (Downtown)) down to established and emerging clusters.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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