What is now an old tool and dye machine shop will soon be transformed into the new Internet of Things (ioT) Lab, and the Fishers Redevelopment Commission unanimously passed a resolution setting the lease terms.

The lease terms will be $7.00 per square foot a year, with lease renewals costing $7.15 a square foot annually.  The building will be undergoing extensive renovation, and tenants will be charged $21.27 a square foot to fund the remodeling.  Leases will be 5 years in length.   You can read the lease provisions at this link.

Fishers Economic Development Director Brandon Dickinson told commission members the ioT lab will be the first of its kind in the Midwest.  Launch Fishers Founder John Wechsler is fielding inquiries from a number of companies throughout the nation asking to be a part of the ioT Lab.

The Lab will be located across from the Launch Fishers Complex and the former Charles Schwab building (now called the Visionary Building).