If you’ve been keeping an eye on Indiana’s booming suburbs, you’ve probably noticed that Fishers keeps stealing the spotlight. What was once a quiet community on the northeast side of Indianapolis has transformed into one of the fastest-growing cities in the Midwest—now boasting a thriving business scene, a strategic location, and plenty of commercial real estate opportunities. Whether you’re a developer, investor, or entrepreneur looking for the right market, Fishers is worth a closer look.
A City on the Rise
Fishers officially became a city in 2015, but its growth story started long before that. With a population of more than 100,000 residents and climbing, it’s no longer just a “bedroom community” for Indianapolis—it’s a destination in its own right. Families flock here for great schools, safe neighborhoods, and amenities like parks, dining, and entertainment. And where families go, businesses follow.
This growth fuels demand for retail, office, and industrial space, making Fishers one of Indiana’s hottest commercial real estate markets.
The Numbers You Should Know
- Inventory: Fishers offers more than 1.5 million square feet of commercial space for lease across office, retail, and industrial properties.
- Office Market: The Fishers/Geist office submarket has about 5.2 million square feet of inventory, with vacancy hovering near 12%. That means opportunities are there for tenants and landlords alike.
- Retail Market: Retail is strong, with 200,000+ square feet available, and demand continues to grow thanks to population growth and mixed-use developments.
- Industrial Market: Warehouses and flex spaces average more than 120,000 square feet per building, serving logistics, advanced manufacturing, and tech businesses.
For investors, those numbers paint a picture of balance: enough supply to give tenants options, but strong enough demand to make ownership profitable.
Projects That Define Fishers
If you want proof that Fishers takes commercial development seriously, just look at the Nickel Plate District and Fishers District. These mixed-use hubs combine retail, dining, office, and residential in walkable, community-centered designs. They attract not just locals, but visitors from across the region.
Some standout projects include:
- The Edge – A 65,000-sq-ft downtown development featuring medical office space and ground-floor retail.
- First Internet Bank Headquarters – A $157 million project bringing Class A office, retail, and even a boutique hotel to the Nickel Plate District.
- Fishers Event Center – A brand-new, 7,500-seat arena that’s already drawing events, entertainment, and spin-off business opportunities nearby.
These projects do more than fill square footage—they create destinations, raise property values, and signal that Fishers is playing at the next level.
Business Climate and Costs
For many companies, location decisions come down to the bottom line. Fishers shines here, too. The property tax rate is roughly 2.3%, with a local option income tax of just 1%—keeping costs competitive compared to many other cities. Add in Indiana’s overall low business costs and Fishers’ AAA bond rating, and you’ve got a city that can afford to invest in infrastructure without burdening businesses.
Why It Matters to You
So, why should you care about commercial real estate in Fishers? In short: growth, opportunity, and momentum. Population growth guarantees steady demand for services. Strategic investment in mixed-use projects drives foot traffic and long-term property value. And the city’s pro-business stance makes it easier to build, buy, and expand here than in many competing markets.
For business owners, that means a great place to set up shop. For investors, it means strong potential for returns. For developers, it means a city government ready to partner on the right projects.
Final Thought
Fishers isn’t just growing—it’s growing smart. The combination of strategic planning, economic momentum, and community investment makes it one of the most exciting commercial real estate markets in Indiana today. Whether you’re considering leasing office space, opening a retail concept, or investing in industrial property, the opportunities are right here waiting.
If you’re ready to explore them, let’s talk.
