Strongbox and City of Fishers announced today plans to rehabilitate the former Marsh Supermarkets property located at 96th Street and Lantern Road. Strongbox, an Indianapolis-based commercial developer and construction management company, plans to invest $7 million to demolish 20,000 ft2 of the existing building to accommodate a new tenant to the community, add landscaping and parking lot improvements, and build a 10,000 ft2 out lot retail building.
“The 96th Street corridor is an important gateway into our city, and I’m glad this vacant property will see new life through this reuse,” said Fishers Mayor Scott Fadness. “My team is committed to ensure Fishers’ vibrancy is felt in all corners of our city and this is another great example of that dedication.”
The former Marsh Supermarket location is one of two locations in Fishers which were rezoned shortly after closing to ensure reuse of the stores were in the best interest of neighboring businesses and residents. Strongbox will begin the rezoning process in January to change the use of the property.
“Strongbox Commercial is excited for the transformation this project will bring to Fishers,” said Lindsey Phipps, Director of Development and Operations of Strongbox. “The Marsh grocery store has been vacant for far too long, and we believe the redevelopment of the existing building accompanied by additional retail will help catapult a positive impact along the 96th St corridor. As a result, we envision this development to bring a positive effect to the neighboring businesses and residents as well.”
The City of Fishers is recommending impact fee waivers for the new retail building on behalf of Strongbox in exchange for purchasing four (4) license plate readers (LPRs) in partnership with Fishers Police Department. These LPRs will be installed along 96th Street as part of the Department’s ongoing efforts to utilize technology to deter crime in Fishers.
Retail inquiries can be directed to Beth Patterson with Resource for leasing opportunities: 317-514-8454, firstname.lastname@example.org