FISHERS, Ind. (Inside INdiana Business) — A former Marsh Supermarkets property in Fishers will soon have new life.
Indianapolis-based commercial development and construction management company Strongbox says it will invest $7 million to redevelop the property.
The city says Strongbox will demolish 20,000 square feet of the existing building to accommodate a new tenant, as well as construct a 10,000-square-foot retail building. The effort will also include landscaping and parking lot improvements.
The property is located at 96th Street and Lantern Road. The former Marsh store closed in 2017 and the city says it is one of two locations that were rezoned to “ensure reuse of the stores were in the best interest of neighboring business and residents.” Strongbox plans to 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,” Lindsey Phipps, director of development and operations for Strongbox, said in a news release. “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.”
Strongbox and the city did not provide an anticipated time frame for completion of the redevelopment effort.
The city says it is recommending impact fee waivers for the new retail building in exchange for Strongbox purchasing four license plate readers as part of a partnership with the Fishers Police Department.