Thompson Thrift Sells Landmark Mixed-Use Property Near Indianapolis
September 23, 2021
Fishers, IN
Thompson Thrift, a full-service nationally recognized real estate company, announced today that it has closed on the sale of Fishers District, a master-planned, mixed-use development in the Indianapolis suburb of Fishers. Chicago-based JVM Realty purchased the property for an undisclosed price.
The Fishers District development was designed across 18 acres to provide a sense of place and features a seamless blending of dining, retail, and entertainment establishments, along with The Mark at Fishers District, a 260-unit, class A+, luxury multifamily community. A dual-branded Hyatt House and Hyatt Place hotel is also on-site, but was not part of the sale to JVM.
“Fisher’s District is a unique and exciting destination that reflects the ingenuity of each of Thompson Thrift’s three business units and a project that we believe will be a lasting asset to the Fishers community,” said Ashlee Boyd, managing partner, Thompson Thrift Retail Group. “The thriving project is a premiere regional destination offering innovative dining, living, and entertainment options that matches the city’s vision for a development that accurately represents Fishers as one of the best places to live in America.”
Conveniently located near I-69 and 116th Street, and with walkable access to Ikea and Top Golf, Fishers District features a main street design that is focused around a central green space known as The Yard. The 105,000 square feet of retail space is 100% leased and features a number of local and national retail services, as well as many boutique restaurants, such as the St. Elmo 1933 Lounge, Sun King Brewery, and Fishers Test Kitchen, a city-supported, culinary-incubator that allows up-and-coming chefs to develop new concepts in a shared location that seats 350 people and features a rooftop deck.
The Mark at Fishers District is the 260-unit, luxury multifamily property that welcomed its first residents in early 2020. The Mark features luxurious, high-end finishes, such as large kitchen islands, quartz countertops, stainless steel appliances, and luxury vinyl plank flooring, to name a few. It also includes a number of other amenities, like a club-quality fitness center, bocce ball court, and an indoor/outdoor bar with Starbucks coffee station, all seamlessly integrated with Fishers District’s retail and dining experiences. Although it was leased during the height of the coronavirus pandemic, the property is currently 96% leased.
George Tikijian and Hannah Ott of Cushman Wakefield brokered the sale for Thompson Thrift.
“With its convenient access to a diverse group of award-winning employers, its incredible amenities, and the unrivaled integration between its retail and multifamily components, Fishers District offers an unmatched destination lifestyle for its residents,” said Hannah Ott, vice chair at Cushman & Wakefield. “We are thrilled to have the opportunity to facilitate a sale of this landmark property that attracted nationwide investor interest and achieved record breaking pricing.”
Thompson Thrift first began work on the Fishers District development in 2015. It is also the first Thompson Thrift project to feature all three of the company’s business units: Thompson Thrift Retail Group, Thompson Thrift Construction and Watermark Residential.
Thompson Thrift CEO Paul Thrift stated, “With the support of the city and its residents, we have created an attractive and welcoming place that can be enjoyed for many years to come. With this project we have lived out our mission statement to positively impact the communities we serve.”
Thompson Thrift is a full-service real estate company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, the company has invested more than $2.7 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive projects. Fishers District, along with the adjacent mixed-use development project, The Station, reflect both Thompson Thrift’s robust growth strategy, as well their commitment to developing properties of distinction in and around the Fishers area.
