City Center @ Penn - Sublease — Lease in Carmel, IN
- Price: Contact for price
- Listing type: For lease
- Asset type: Office
- Location: Carmel, IN 46032
- Submarket: North/Carmel
- Size: 21,673 SF
Photos
Description
City Center at Penn Office Park is strategically located at the gateway of the highly desirable Carmel business and medical corridor. Surrounded by amenities, hotels, hospitals and other quality businesses, City Center at Penn Office Plaza is the business address of today. Property has a total of 2 elevators, one is strictly a passenger elevator and the other is a passenger and freight elevator.
Market Context
This office in Carmel, IN is listed for lease across 21,673 SF. Compare it against other office listings for lease in Carmel, IN — view the full market.
As of Q2 2026, the Indianapolis office market showed a 20.0% vacancy rate, average asking rents near $22.12/SF/yr, and rents up 0.1% year over year. Source: multiple brokerage reports, Q2 2026.
Above-average vacancy gives tenants leverage and a wide set of comparables.
Office market FAQ
- Is the Indianapolis office market tightening or softening?
- Vacancy is around 20.0% (Q2 2026).
Estimated Market Rate
$1.75/SF/mo – $2.35/SF/mo
Mid: $2.05/SF/mo
Estimated total for 21,673 SF: $44,430 per month
Based on comparable properties in similar markets rather than local sales.
By our match to nearby addresses in brokers' reports, this property is in the North/Carmel submarket, where average asking rent was $22.62/SF/yr in Cushman & Wakefield's Q2 2026 report.
Contact
- Matt Kiger · 1317308-4228 · matt.kiger@nmrk.com
- Matt Kiger · 1317308-4228 · matt.kiger@nmrk.com
Explore this market
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