Mile Square (Downtown) is a trophy-tier Indianapolis submarket with average asking rent around $32/sqft/yr.

  • Average asking rent: $32/sqft/yr.
  • Tier: trophy.
  • Citywide Class A rent context: $26/sqft/yr ($26 USD).
  • Citywide vacancy: 19.2% — submarket-level availability is typically tighter at trophy tier.

Mile Square (Downtown), Indianapolis office rents and availability

Mile Square (Downtown) is a trophy-tier Indianapolis submarket with average asking rent around $32/sqft/yr.

TL;DR

  • Average asking rent: $32/sqft/yr.
  • Tier: trophy.
  • Citywide Class A rent context: $26/sqft/yr ($26 USD).
  • Citywide vacancy: 19.2% — submarket-level availability is typically tighter at trophy tier.

Where rent sits

Mile Square (Downtown) averages around $32/sqft/yr for Class A, against a citywide Class A index of 26. As a trophy submarket, rent runs above the city average and availability is structurally tight.

Availability dynamics

Indianapolis's legacy trophy core. Banking, insurance, professional services, law firms, government.

Key facts

cityIndianapolis
submarketMile Square (Downtown)
tiertrophy
averageRentLocal$32/sqft/yr
cityClassARentUsd$26/sqft/yr
cityVacancyPct19.2%

Frequently asked questions

What is the average Class A rent in Mile Square (Downtown), Indianapolis?
Around $32/sqft/yr. The citywide Class A index sits at $26/sqft/yr.

Related

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.

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