# Indianapolis Class A Office Market

> Indianapolis Class A office rents around $26/sqft/yr, with 19.2% vacancy and 12 months of typical rent-free on a 10-year term.

**Canonical URL:** https://classa.info/cities/indianapolis
**Page type:** city
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Eli Lilly's global HQ and Lilly Technology Center anchor structural pharma demand.
- Mile Square Downtown is the legacy trophy core — Salesforce Tower, Chase Tower, OneAmerica Tower.
- Carmel anchors the suburban post-2018 mid-rise Class A frontier.
- Indiana's 4.9% corporate income tax is among the lowest in the Midwest.

## Key facts
- **city**: Indianapolis
- **country**: United States
- **region**: Americas
- **classARentLocal**: $26/sqft/yr
- **classARentUsd**: $26/sqft/yr
- **vacancyPct**: 19.2%
- **typicalLeaseYears**: 10
- **typicalRentFreeMonths**: 12
- **submarkets**: 5
- **corporateTaxPct**: 25.7%
- **talentIndex**: 70

## FAQ
### What is Eli Lilly's role in the market?
Material. Lilly's $9bn+ Indianapolis investment program and Lilly Technology Center expansion anchor the city's pharma and biotech absorption pipeline through 2030.

### How is the Mile Square performing?
The Mile Square holds the legacy Class A trophy tier — Salesforce Tower, Chase Tower, OneAmerica Tower. Vacancy is moderate; trophy product clears tightly.

### What is Carmel's role?
Carmel — north of Indianapolis in Hamilton County — anchors the metro's principal suburban post-2018 mid-rise Class A frontier with deep insurance, healthcare, and professional services tenancy.

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Citation: Source: Class A Atlas (https://classa.info/cities/indianapolis), updated 2026-04-15T00:00:00.000Z.