If you’ve been watching the Indiana real estate market, one city that’s consistently turning heads is Fishers. Nestled in Hamilton County just northeast of Indianapolis, Fishers has transformed from a quiet suburb into a thriving hub for business, retail, and industrial activity. For investors, developers, and entrepreneurs, understanding the commercial real estate landscape here is essential—and surprisingly exciting.
Rapid Growth, Big Opportunities
Fishers’ population has exploded over the past two decades, now exceeding 100,000 residents. This growth has created steady demand for commercial spaces, from offices to retail, industrial, and mixed-use developments. The city’s strategic location—easy access to I-69 and proximity to Indianapolis—makes it an ideal spot for businesses looking to serve both local and regional markets.
Growth isn’t just in numbers; it’s in the quality and scale of commercial projects. The city has invested heavily in creating mixed-use districts that combine residential, retail, and office space. These developments attract not only residents but also businesses seeking vibrant, community-centered locations.
Commercial Real Estate By the Numbers
- Office Space: Fishers’ office market boasts roughly 5.2 million square feet of inventory. Vacancy rates hover around 12%, providing opportunities for both landlords and tenants seeking flexible leasing options.
- Retail Space: Over 200,000 square feet of retail space is available, spanning shopping centers, mixed-use properties, and standalone locations. Strong population growth supports continued demand for retail businesses.
- Industrial & Warehouse Space: Fishers’ industrial properties are larger on average, often exceeding 120,000 square feet per building, making them ideal for logistics, manufacturing, and technology companies.
These numbers reveal a balanced market: ample supply for new tenants, but strong enough demand to ensure investment potential remains high.
Signature Developments
Fishers’ commercial landscape is defined by standout projects that combine practicality with vision. Two key areas illustrate this perfectly:
- Nickel Plate District: This urban redevelopment blends retail, dining, office space, and apartments in a walkable, community-oriented environment. It’s a true destination that attracts locals and visitors alike.
- Fishers District: Another mixed-use hub, this area offers dining, entertainment, residential, and office opportunities. It’s an example of how commercial real estate here isn’t just functional—it’s experiential.
Other notable developments include:
- The Edge: 65,000 sq. ft. of downtown office and retail space, drawing medical professionals and entrepreneurs.
- First Internet Bank Headquarters: A $157 million project combining Class A office space, retail, and a boutique hotel.
- Fishers Event Center: A new 7,500-seat arena fueling local entertainment and spurring nearby retail growth.
These projects don’t just fill space—they create hubs of activity that drive economic growth and elevate property values.
Business-Friendly Environment
Commercial real estate in Fishers is supported by a favorable business climate. Property taxes average around 2.3%, with a local option income tax of just 1%. Combined with Indiana’s generally low cost of doing business and the city’s AAA bond rating, Fishers makes financial sense for investors and business owners alike.
Additionally, the city’s Unified Development Ordinance (UDO) ensures that growth is smart, with zoning, permits, and planning aligning with long-term goals. From mixed-use districts to industrial parks, Fishers’ planning policies help businesses thrive while maintaining the community’s vision.
Why Fishers Matters
For investors, developers, and business owners, the takeaway is simple: Fishers offers growth, opportunity, and momentum. The city is expanding its population, creating demand for commercial spaces, and investing in projects that attract businesses and residents alike. Whether you’re looking for office space, retail opportunities, or industrial warehouses, Fishers is a city that rewards careful planning and strategic investment.
Final Thoughts
Fishers isn’t just growing—it’s growing smart. Its combination of population growth, high-quality developments, and a business-friendly climate makes it one of Indiana’s most attractive commercial real estate markets. For anyone looking to invest, lease, or develop, Fishers isn’t just a place to watch—it’s a place to act.
