Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowRevenue growth FY 2022 to 2024: 150.95%
2024 revenue: $27.7 million
Expanding: When RISE Commercial District made its first appearance on the Fast 25 in 2021, it had eight locations. Today, RISE, which provides co-warehousing space where companies can lease spaces and share services—everything from internet access to conference rooms to forklifts—has 15 locations, and it has three more under construction in Indiana, Ohio and Missouri.
Tenants big and small: President and CEO Jim Sapp said each of RISE’s sites has about 125 tenants. They range from huge companies like McDonald’s, Google and Amazon to banks, churches and nonprofits. Big companies typically need RISE facilities to store items just before they’re delivered to the consumer. “We cover that last mile of distribution for a lot of products,” Sapp said. Girl Scout cookies are stored at RISE facilities, as are chairs and musical instruments belonging to churches that don’t have room for storage. About 5% of RISE’s tenants are nonprofits.
Shifting: Sapp said RISE is primarily focused on entrepreneurs and small companies, which are 60% of its tenant base. But in the last 18 months, business has grown as franchises and national companies find themselves needing last-mile logistics. This year, the company started a division called RISE Box, which offers refrigeration and freezer storage for medicine and food.
Midwest expansion: Sapp said his plan is to continue to grow RISE in the Midwest. “We really use a hub-and-spoke philosophy in growing,” he said. “We went to Columbus, Ohio, and built three sites and are looking at property for a fourth. We have four Rises in Indianapolis and are building a fifth. So I see the future as bright.”
Five-timers club: This is RISE’s fifth consecutive year on the Fast 25. Sapp said that every year, he’s more surprised to make the list. “I never know if we’re gonna make it, but I guess we’re doing the right thing.”•
Check out more of IBJ’s ranking of Indy’s fastest-growing companies.
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