IU Health Hospital Campus - Developments (Indianapolis Downtown) - #1C Indianapolis Medical Office Vacancy Compared to Office Vacancy
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The third thing we want to consider in this video is the impact of this development compared to these medical users already in space.
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Right now, the total CBD submarket incorporates 12.7 million square feet of office space.
We're talking about a vacancy rate in the general office market of 24.8%.
Looking at that compared to the 18.9% vacancy rate in medical office space, this is a bit larger, as these are specialized facilities and, of course, they're going to be a little more in demand.
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But the silver lining with any of the office space downtown is, of course, our mixed-use developments.
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This is apart of our full Development Series of the Indianapolis [CBD Submarket], check out all of the videos here:
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