SELF-STORAGE OPPORTUNITY

SELF-STORAGE OPPORTUNITYEDEO Self Storage

CONFIDENTIAL OFFERING MEMORANDUM

10415 ALLISONVILLE ROAD, F ISHERS, INDIANA

SELF-STORAGE OPPORTUNITY

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INVESTMENT OVERVIEW

EDEO Self Storage in Fishers, Hamilton County, Indiana is a ground-up construction project and will be delivered at Certificate of Occupancy in October, 2017. At completion the facility will include 72,650 net rentable square feet with a combination of drive-up (41%) and interior climate controlled units (59%). EDEO Self Storage in Fishers is located on a primary arterial road with visibility, ingress and egress that is superior to nearby competition. The three mile population base is 55,564 with the five mile at 129,860 in the growing, affluent Indianapolis suburb of Fishers, Indiana. Five mile supply after completion of this project is estimated at 5.4 SF/capita and traffic counts are approximately 22,000 vehicles per day. Fishers has experienced rapid growth in population, swelling from 76,794 in 2010 to 90,127 as of 2016, a growth rate of 2.9% annually, and 17.4% total, and has been voted Money Magazine “100 Best Places to Live” (#12) and Forbes’ “America’s Friendliest Towns” (#3). Hamilton County accounts for 41% of total new development in the Indianapolis MSA, while only representing 14% of the population. Among the largest employers in Fishers are Navient, Roche Diagnostics, ADT and US Foodservice and, as of 2015, Hamilton County had one of the lowest unemployment rates in the state of Indiana at 4.5%. Average self-storage rents in the Fishers market are $1.10/SF for non-climate and $1.42/SF for climate controlled space.

INVESTMENT HIGHLIGHTS

• Offers Due August 31, 2017 by 5pm• New ground-up construction with combination of climate, non-climate and drive-up units• Superior visibility and access from main arterial• Potential rents of $1,027,000 (year 4)• Stabilized value at 6% CAP of $10,650,000• Five mile projected saturation of 5.4 SF/capita

10415 ALLISONVILLE ROAD, FISHERS, INDIANA


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Annualized Property Operating DataLease-Up As Stabilized

Income Year 1 Year 2 Year 3 Year 4Gross Potential Rent (See Unit Mix) $1,014,972 $1.12/SF $1,014,972 $1.12/SF $1,055,571 $1.16/SF $1,097,794 $1.21/SFAncillary Income $71,048 $71,048 $73,890 $76,846 Gross Income $1,086,020 $1,086,020 $1,129,461 $1,174,639 Less: Vacancy/Concessions $(651,612) 60% $(325,806) 30% $(169,419) 15% $(146,830) 10%Effective Gross Income $434,408 $760,214 $960,042 $1,027,809 Less: Expenses $(343,885) $(368,048) $(386,109) $(397,768)Stabilized Net Operating Income $90,523 21% $392,166 52% $573,933 60% $630,041 61%

Expenses 3rd Party Management Fee @ 5% $21,720 $38,011 $48,002 $51,390Salary and Burden $75,000 $76,875 $78,797 $80,767Property Tax $150,000 $153,750 $157,594 $161,534 Advertising & Promotion $2,000 $2,050 $2,101 $2,154 Gas/Electric $15,000 $15,375 $15,759 $16,153 Landscaping $2,000 $2,050 $2,101 $2,154 Maintenance & Repair $2,000 $2,050 $2,101 $2,154Equipment Rental - Printing & Dues $1,000 $1,025 $1,051 $1,077 Office Expense & Supplies $1,000 $1,025 $1,051 $1,077 Postage & Express Mail $1,000 $1,025 $1,051 $1,077 Telephone $2,500 $2,563 $2,627 $2,692 Outside Services $4,800 $4,920 $5,043 $5,169 Misc. Audit & Legal $3,000 $3,075 $3,152 $3,231 Travel & Ent $1,000 $1,025 $1,051 $1,077 Pest Control $1,800 $1,845 $1,891 $1,938Security $1,800 $1,845 $1,891 $1,938 Insurance Property $12,000 $12,300 $12,608 $12,923 Snow Removal $8,000 $8,200 $8,405 $8,615 Water/Trash/Sewer $4,000 $4,100 $4,203 $4,308 Office Admin $8,000 $8,200 $8,405 $8,615 Marketing/SEO/Call Center $19,000 $19,475 $19,962 $20,461 Reserve $7,265 $7,265 $7,265 $7,265 Total Estimated Expenses $343,885 79% $368,048 48% $386,109 40% $397,768 39%

Phase II Stabilized Value Range: 5.50% CAP $11,455,292 Phase I Phase II6.00% CAP $10,500,684 Lease-Up Year 1 Year 2 Year 3 Year 46.50% CAP $9,692,939 Occupancy 40% 70% 85% 90%

Expense estimates provided by Seller. Annual increases in expenses of 2.5%. Potential rent flat for years 1-2 with 4% bumps years 3-4.



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LocationSubject Property Public Storage Allisonville S.S. Public Storage Extra Space U-Haul Simply Self-Storage

10415 Allisonville RdFishers



9425 CorporationIndianapolis

7151 E 86th StIndianapolis

7027 E 86th StIndianapolis

8525 Castleton SqrIndianapolis

NRSF (est.) 7 3,050 100,000 65,000 50,000 32,000 50,000 53,000 Distance 638 Units 0.60 0.70 1.40 1.90 1.90 2.00 NCC Rents 5x5 $1.68 $1.76

5x10 $1.02 $1.15 $1.06 $1.14 $1.50 10x10 $1.10 $0.88 $0.95 $0.84 $0.90 10x20 $0.84 $0.73 $0.82 $0.75

Avg NCC $1.06 $1.16 $1.02 $1.12 $0.93 $1.05 CC Rents 5x5 $1.76 $1.32

5x10 $1.40 $1.56 $1.22 10x10 $1.19 $1.12 $1.34 10x20 $1.02 $1.74

Avg CC $1.28 $1.45 $1.23 $1.15

Additional sites NCC CCMetro Storage, 106th St 0.40 Miles 16,000 NRSF $0.89 n/a Class C, small facility, no website, no visibility

Public Storage, Fitness Ln 2.26 Miles 55,000 NRSF $0.81 n/a No CC units



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Unit Mix # Units Sq Ft Rate $/SF Monthly Total5 x 10 1 50 $85 $1.70 $85 NCC Exterior

7.5 x 10 2 150 $105 $1.40 $210 NCC Exterior 10 x 10 10 1,000 $100 $1.00 $1,000 NCC Exterior 41% of unit mix10 x 12.5 3 375 $122 $0.98 $366 NCC Exterior Non-Climate10 x 15 21 3,150 $145 $0.97 $3,045 NCC Exterior Controlled10 x 20 71 14,200 $185 $0.93 $13,135 NCC Exterior Exterior10 x 25 12 3,000 $225 $0.90 $2,700 NCC Exterior10 x 30 26 7,800 $260 $0.87 $6,760 NCC Exterior

5 x 5 35 875 $60 $2.40 $2,100 CC Interior5 x 7.5 30 1,125 $80 $2.13 $2,400 CC Interior5 x 10 95 4,750 $90 $1.80 $8,550 CC Interior5 x 15 1 75 $130 $1.73 $130 CC Interior 47% of unit mix

7.5 x 10 79 5,925 $125 $1.67 $9,875 CC Interior Climate10 x 10 139 13,900 $120 $1.20 $16,680 CC Interior Controlled10 x 12.5 41 5,125 $145 $1.16 $5,945 CC Interior10 x 15 51 7,650 $170 $1.13 $8,670 CC Interior10 20 16 3,200 $170 $0.85 $2,720 CC Interior10 x 30 1 300 $210 $0.70 $210 CC Interior

Non CC 146 29,725 $0.92 27,301 CC 488 42,925 $1.33 57,280

Averages 634 72,650 $1.16 $84,581



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SITE DESCRIPTION

General EDEO Self-Storage

Status Delivered Vacant at Certificate of Occupancy, mid-October 2017

County Hamilton County, Indiana (Indianapolis MSA)

Planning District Fishers, IN

Tax Lot 29-14-10-000-010

Parcel Size 79,453 SF (1.82 Acres)

PROJECT DETAILS

Gross Building Area 90,854

Net Rentable Area 72,650

Average Unit Size 115

% Climate vs Non Climate 47% CC / 53%

Avg Rents Climate / Non Climate $1.44 CC / $1.10 NCC

Weighted Average Rents $1.12

INVESTMENT HIGHLIGHTS

DEMOGRAPHICS1/3/5 Mile Population 5,183 / 55,654 / 129,860

Population Growth (2010-16) 17.40%

Est SF/Capita (3/5 mile) 7.6 / 4.8

Traffic Count (AADT) 21,793

Household Income $94,192

Projected NOI Year 1 Year 2 Year 3 Year 4

Average Rental Rate/SF $1.12/SF $1.12/SF $1.16/SF $1.21/SF

Occupancy % 40% 70% 85% 90%Effective Gross Income $434,408 $760,214 $960,042 $1,027,809

Total Operating Expenses $343,885 $368,048 $386,109 $ 397,768

Net Operating Income $90,523 $392,166 $573,933 $630,041



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10415 ALLISONVILLE RD, FISHERS, IN, 3.64 ACRESRADIUS 1 MILE 3 MILES 5 MILES

Population 5,183 55,654 129,860

5,183 165,000 425,000 623,000

55,654 31.8 7.6 4.8

129,860 73,050 73,050 73,050

Projected Market SF 238,050 498,050 696,050

Projected Sat’n 45.9 8.9 5.4

HH Income $84,467 $94,192 $80,415

Traffic Count 21,739 VPD

Avg Rent NCC/CC Per RSF $1.10 / $1.42

ONE MILE RINGSITE DISTANCE (MILES) APPROX SQ FT

Public Storage 9915 Allisonville Rd, Fishers 0.6 100,000

Allisonville Self Storage 10986 Allisonville Office Dr, Fishers 4.6 26,880

THREE MILE RINGSITE DISTANCE (MILES) APPROX SQ FT

Public Storage 9425 Corporation Dr, Indianapolis 1.4 50,000

Extra Space 7151 E 86th St, Indianapolis 1.9 32,000

U-HAUL 7027 E 86th St, Indianapolis 1.4 50,000

Simply Self Storage 8525 Castleton Square Dr, Indianapolis

1.9 32,000

FIVE MILE RINGSITE DISTANCE (MILES) APPROX SQ FT

Fishers Self Storage 13323 Britton Park Rd, Fishers 3.8 55,000

Fortress Self Storage 12650 Ford Dr, Fishers 3.8 73,000

Infinite Self Storage 550 W Carmel Dr, Carmel 4.8 80,000

U-Stor Self Storage 10921 E 126th St, Fishers 4.9 70,000

1 MILE 3 MILES 5 MILES



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AERIAL DEVELOPMENT ACTIVITYNEW RESIDENTIAL DEVELOPMENTS (LAST 3 YRS)

ANDERSON HALL 65 Single-Family Homes / LotsPrice: $300K - $400K

INGLENOOK OF CARMEL “Pocket” Neighborhood27 Single-Family HomesPrices: $250K-$400K

THE PRESERVES AT THE SANCTUARY 155 Single-Family Homes / Lots Prices: $350K-$500K

TOWNHOMES AT GRAND & MAIN 20 Luxury Townhomes Prices: $260K -$400K

LOFTUS ROBINSON PROJECT $28M Mixed Use Development100 Luxury Apartments

THE DEPOT AT NICKEL PLATE $40M Residential Development242 Luxury Apartments

THE HAVEN 96-Acre PUD81 Single-Family Homes / LotsPrice: $335K - $340K

HAWTHORN RIDGE WEST Hawthorns Country Club on-sitePrice: $580K - $600K

THE HAMILTON 85 Luxury Apartments Development Cost Not Available

THE GROVE AT LEGACY 250 Single Family Homes & Duplexes Price: $290K - $285K

GRAY OAKS COMMUNITY 40 Single-Family Homes / LotsPrice: $650K - $1.1M

PRAIRIE LANDING COMMUNITY 116 Single-Family Homes / LotsPrice: $430K - $450K

HOLSTON HILLS COMMUNITY 73 Single-Family Homes / LotsPrice: $280K - $400K

SAXONY DEVELOPMENT 750-Acre Development inclusive of residential, medical, office, & retailMedian Home Value: $380K

SOUTH VILLAGE OF NICKEL PLATE $30M Residential Development60 Single-Family HomesStarting Home Price: $400K

10415 ALLISONVILLE ROAD, FISHERS, INDIANANEW RESIDENTIAL DEVELOPMENTS (LAST 3 YRS)
















NEW RESIDENTIAL DEVELOPMENTS (LAST 3 YRS)
















































IKEA STOREOpening Fall 2017

































































300 ACREAirport Business Park


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AERIAL


10415 ALLISONVILLE ROAD FISHERS, IN


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CONCEPTUAL LAYOUT

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CONCEPTUAL LAYOUT #2

BUILDING A2-STORY

BUILDING C1-STORY

BUILDING B 1-STORY

BUILDING D 1-STORY



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FIRST FLOOR PLAN

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{ DENOTES CART STORAGE

------

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--STORAGE UNIT TOTALS

Courir- ___ / Name 35 A

32 B

93 C

82 D

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STORAGE UNIT SCHEDULE

TAG SIZE(NOM) AREA A 5'x5' 25 SF (Norn.)

B 5'x7.5' 37.5 SF (Nom.)

C S'x 10' 50 SF (Norn.)

D 7.5'x10' 75 SF (Norn.)

D2 S'x 15' 75 SF (Norn.)

E 10' X 10' 100 SF (Norn.)

lO'x 12.5' 125 SF (Norn.)

G IO'x 15' 150 SF (Norn.)

H IO'x20' 200 SF (Norn.)

10'x25' 250 SF (Norn.)

K IO'x30' 300 SF (Norn.)

X-X VARIES

z 5' x 5' Locker - 2 High- 25 SF (Norn.)

Storage Unit Notes: I. Storage unit sizes shown are nominal and may not

,-�----2. Units adjacent to aisle or other doors may be

reduced in size to allow for required accessibility clearances. Such units are marked with an asterisk '"'"'.

3. Odd sized units are marked with the letter ofan equivalent sized unit and an asterisk""'".

4. Not all units listed may be included in a building or aprojccL

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Note: Unit sizes are nominal, and units marked with an asterisk "*"maybe reduced to allow for accessible clearances by doors.

© Groundwork, Ltd. Architects / Planners / Engineers Y135 0216

I _L



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SECOND FLOOR PLAN


STORAGE UNIT SCHEDULE

TAG SIZE(NOM) AREA

A 5'x5' 25 SF (Norn.)

B 5'x7.S' 37.5 SF (Nom.)

C S'x 10' 50 SF (Norn.)

D 7.5'x10' 75 SF (Norn.)

D2 S'x 15' 75 SF (Norn.)

E 10' X 10' 100 SF (Norn.)

F lO'x 12.5' 125 SF (Norn.)

G IO'x 15' 150 SF (Norn.)

H IO'x20' 200 SF (Norn.)

J 10'x25' 250 SF (Norn.)

K IO'x30' 300 SF (Norn.)

X-X VARIES

z 5' x 5' Locker - 2 High- 25 SF (Norn.)

Storage Unit Notes: I. Storage unit sizes shown are nominal and may not

represent actual clear area. 2. Units adjacent to aisle or other doors may be

reduced in size to allow for required accessibility clearances. Such units are marked with an asterisk"*".

3. Odd sized units are marked with the letter ofan equivalent sized unit and an asterisk""'".

4. Not all units listed may be included in a building or a projecL

BUILDING A

Note: Unit sizes are nominal, and units marked with an asterisk "*"maybe reduced to allow for accessible clearances by doors.

0 8' 16' ��

32' I

© Groundwork, Ltd. Architects / Planners / Engineers Y135 0216

CONFIDENTIAL OFFERING MEMORANDUM

10415 ALLISONVILLE ROAD FISHERS, INDIANA

TOM DE JONG Senior Vice President | San Jose - Silicon Valley (408) 282 [email protected]

ALEX CANTU Senior Vice President | Indianapolis (317) [email protected]

Drawings not exact/not to scale. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. © 2017 Colliers International

450 West Santa Clara StSan Jose, CA 95113

For property related questions please contact Tom de Jong:

Local broker contact:

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SELF-STORAGE OPPORTUNITY