On average, listings lease in the $20's per square foot per year. The Indianapolis submarket is going through a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Indianapolis market, the Indianapolis submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 412 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Indianapolis are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,400 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this market were built in 1947 and are Class B.