PROSCENIUM III — Lease in Carmel, IN

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Carmel, IN 46032
  • Submarket: North/Carmel

Description

PRIME LOCATION ADJACENT TO CARMEL CITY CENTER Proscenium III at 1132 S Rangeline Rd offers immediate access to Carmel City Center, a premier walkable, mixed-use destination in Carmel’s thriving Arts & Design District. This 4-story office building features ±25,000 SF floor plates strategically positioned where today’s workforce can enjoy an exceptional quality of life. Steps from the building, employees have access to local restaurants, specialty shops, the Center for the Performing Arts, and the vibrant energy of Center Green. The location along the Monon Greenway provides additional connectivity to luxury apartments, boutique hotels like Hotel Carmichael, and a dynamic mix of dining and nightlife options that make this one of Carmel’s most desirable business addresses.

Market Context

This office in Carmel, IN is listed for lease. 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

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.

First seen on CREHunt: Sep 23, 2026

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