INDIANAPOLIS, February 26, 2026 – Cushman & Wakefield’s most recent Indianapolis Hotspot Series report released this week has proclaimed Noblesville, Ind., as the region’s “Engine of Innovation” due largely to sustained public and private investment in the city. Noblesville has emerged as one of Central Indiana’s fastest growing suburban markets over the past decade, evolving into a center for advanced industry, corporate office users, entertainment and mixed-use development.
Anchored by its Innovation Mile district, the area has attracted concentrated development across hospitality, multifamily and commercial uses. All 388,000 square feet of hospitality space delivered during the past 10 years has been located adjacent to Innovation Mile, reinforcing its role as a new economic focal point. An additional 104,000 square feet is currently planned.
Multifamily development has followed a similar upward trajectory. Between 2015 and 2025, inventory more than doubled from 4.8 million to 10.7 million square feet, representing a 123% increase, with approximately 1.4 million square feet remaining in the pipeline. Noblesville’s population increased 10.5% over the past five years to 77,244 residents, while median household income now exceeds $110,000.
“Noblesville is experiencing a remarkable surge in momentum,” said Ryan Baker, Executive Managing Director at Cushman & Wakefield. “Having facilitated numerous transactions across the area in recent years, I’ve seen investor and occupier demand intensify, fueled by exceptionally strong market fundamentals. The community’s commitment to a pro-development landscape—paired with consistent growth in both population and household income—positions the region for sustained excellence across sectors for the foreseeable future.”
Broad based tenant demand is reflected across commercial property types, with industrial, office and retail vacancy rates currently standing at 6.4%, 2.6% and 2.3%, respectively. In totality, the market contains approximately 15.3 million square feet of commercial inventory with a low overall vacancy rate of 4.8%.
With Noblesville’s location near to I-69 and I-465, and roughly 30 minutes from downtown Indianapolis, regional connectivity is further supporting business activity, the report finds. Major logistics infrastructure, including Indianapolis International Airport, the FedEx national hub, and the CSX intermodal terminal is accessible within an hour, providing efficient regional and