An Indianapolis-based development company will spend $7 million to partially demolish a former Marsh Supermarket in Fishers and prepare the remaining building for a new tenant, as well as construct a separate retail building on the site.
The city of Fishers announced Wednesday that Strongbox will tear down a quarter of the 80,000-square-foot former Marsh Supermarkets property at 96th Street and Lantern Road. Strongbox, which does commercial development and construction management, will also add landscaping features and make improvements to the existing parking lot.
The company will build a 10,000-square-foot retail building on the property.
Ashley Elrod, as spokeswoman for the city of Fishers, said the company has had discussions with potential tenants, but nothing has been finalized yet.
The former Marsh at 8766 E. 96th St.—and other former Marsh locations in Fishers at 7272 Fishers Crossing Drive and 12520 E. 116th St.—were rezoned in 2017, shortly after the stores closed, so the property could only be used for grocery stores.
But Strongbox has indicated it will file to rezone the property in January, so the new tenants will not need to be supermarkets, Elrod said.
“Strongbox Commercial is excited for the transformation this project will bring to Fishers,” Lindsey Phipps, director of development and operations of Strongbox, said in a statement. “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 Street corridor. As a result, we envision this development to bring a positive effect to the neighboring businesses and residents as well.”
As an incentive to develop and reuse the property, Fishers plans to waive $150,000 in impact fees associated with the construction of the new retail building. Strongbox, in turn, purchased four license plate readers—worth $15,000 each—for installation along 96th Street.
Elrod said those cameras will help Fishers police keep their finger on the pulse of a highly trafficked area.
“It’s a heavy retail corridor, so if there’s a theft in the area, for example, those license plate readers can assist in that investigation,” she said.