Market insight

Market Overview

Fort Wayne is located in the northeast corner of Indiana.
The population of Fort Wayne is 269,994 based on the 2023 Estimated U.S. Census Data.
The population of Allen County is 399,295 based on the 2024 Estimated U.S. Census Data.
The population of the Fort Wayne area CSA is 580,836 based on the 2024 Estimated STATS Indiana Data.
The Fort Wayne CSA ranks 79 out of 172 total CSA’s in the US based on 2020 Estimated U.S. Census Data.

Market Inventory Totals

Total Allen County retail inventory = 14,754,433 SF
Total Allen County office inventory = 14,522,797 SF
Total NE IN (or 10 county) industrial inventory = 121,246,890 SF

Distances of major cities from Fort Wayne:

Indianapolis 116 miles
Detroit 160 miles
Chicago 158 miles
Cincinnati 154 miles
Columbus 156 miles

Total Population by County - Northeast Indiana

County	2024	Post Pandemic	1-Year Change	1-Year Change	Natural Change	International	Domestic
Adams	36,584	2.05%	0.82%	115	330	57	-268
Allen	399,295	3.42%	1.20%	4,164	1,738	1,811	601
DeKalb	44,330	2.40%	0.30%	153	85	28	38
Huntington	36,944	0.81%	0.44%	126	-39	80	86
Kosciusko	80,669	0.66%	0.38%	228	32	162	34
LaGrange	41,122	1.43%	0.53%	143	401	37	-297
Noble	47,811	0.74%	0.80%	303	119	79	108
Steuben	34,862	1.22%	-0.16%	-14	-44	89	-59
Wabash	30,777	-0.51%	0.35%	15	-84	17	85
Wells	28,798	2.28%	0.85%	162	18	31	112
Whitley	34,855	1.62%	0.41%	99	50	9	43
NEIN	816,077	2.28%	0.83%	5,494	2,606	2,400	483
10 Counties	416,782	1.21%	0.47%	1,330	868	589	-118
Indiana	6,924,275	1.99%	0.90%	44,144	9,159	30,852	4,268

Source: Greater Fort Wayne Inc.

MARKET REPORTS

2024 Office Market Report

The fundamental challenges of downsizing and hybrid work models in the office sector have continued for the fourth consecutive year, however, Fort Wayne is outperforming other Midwest markets in terms of vacancy rate. Office demand will remain soft and owners will need to be aggressive with pricing and terms in order to attract and retain users. We anticipate that these trends will continue into 2025.

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2025 Industrial Market Report

For the second consecutive year, the demand for industrial space slowed relative to the proceeding five years as evidenced by modestly positive net absorption and an increase in vacant space. Due to positive business sentiment, the overall forecast for 2025 is that industrial demand will improve and vacancy will decrease.

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2025 Retail Market Report

For the first time in five years, vacancy increased and absorption was negative. This was primarily due to corporate bankruptcies and store closures by national retailers and less new construction. Distress is most concentrated in goods retailers, while restaurant, entertainment and personal service users are continually taking a larger share of the market and remain active.

Due to the tremendous economic unpredictability, it is challenging to make retail forecasts. There is a sense of increased risk of a recession, potential for higher inflation and supply chain disruptions as a result of tariffs, which we feel will have a negative impact on the retail market in the next 12 months. On a positive note, Fort Wayne is outpacing state, regional and national population growth rates.

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