Gallacher Development LLC and Self Storage Ventures (SSV) have purchased land and received zoning approval to build a new two-story self-storage facility in the Indianapolis suburb of Fishers, Ind. The 4-acre parcel at 10415 Allisonville Road was acquired last month.
The 850-unit facility will include three single-story buildings comprising more than 35,000 square feet of traditional, drive-up storage. It will also include 40,000 square feet of climate-controlled storage. It’s scheduled to open in spring 2017.
“We’re very excited about this project and look forward to further developments in this market,” said Kelly Gallacher, principal of Gallacher Development and a partner with SSV.
The property is on a well-known retail street in a highly populated neighborhood, close to commercial and retail areas, according to a press release. “With IKEA moving into the town only a couple of miles from the site, and with the redevelopment of approximately 200 acres of the regional airport behind the facility, we are uniquely situated to be the premier self-storage facility in the Fishers market,” Gallacher said. “The project was very well received by the mayor, the city council and staff, receiving a unanimous approval.”
Scott Langdon, president of Langdon Real Estate Services Inc., represented Gallacher Development in the transaction. Steve Daum, vice president of Colliers International, represented the seller.
Based in Sacramento, Calif., Gallacher Development specializes in the acquisition, development, disposition, financing and management of self-storage properties.
SSV is a privately held company, wholly owned by Gallacher Development and Solidcore Partners of Denver. Collectively, the companies provide SSV with analytic standards, capital, underwriting, and real state relationships across the United States as well as parts of Europe and South America.