Gallacher Development LLC has purchased a 3.1-acre land parcel in a suburb of Indianapolis on which it intends to build a new self-storage facility. The site will include approximately 68,000 rentable square feet of storage including a two-story, 28,000-square-foot, climate-controlled building. The project, which is expected to open this fall, will be managed by Extra Space Inc.
Both the buyer and the seller were represented in the off-market transaction by Arnie Macy of Indianapolis-based A.M. Macy Co., which provides self-storage development and consulting services.
Based in Granite Bay, Calif., Gallacher Development is owned by Kelly Gallacher, who has more than 20 years of experience in the acquisition, development, disposition, financing and management of self-storage properties. He has been involved in more than 100 real estate projects in Europe and the United States, including self-storage, industrial, multi-family and office buildings. Gallacher also co-founded Devon Group and its affiliated companies, including Devon Self Storage, in 1988. From 2000 to 2003 he lived in Europe, where he oversaw the development and management of eight self-storage sites—three in France, two in Germany and three in The Netherlands.
Gallacher is also a managing partner in Storage Galleria, a group of self-storage veterans who partnered to create a better customer-service experience for storage tenants. Facility owners who sign up with the company receive periodic PDF fliers of specials and discounts that they can distribute among their customers. The offers are from national companies that provide various products and services tenants regularly use.