A Castleton-based company that launched a fusion between self-storage and co-working is growing yet again.
RISE Commercial District started developing its fourth facility last August on 13 acres in Noblesville. More than just self-storage, RISE Commercial District’s planned warehouse and office space uses wraparound, turnkey services to attract maturing businesses. Its name is an acronym for revolutionary industrial space for entrepreneurs.
Allison Barber, a brand development specialist for RISE, said the company gives business owners who’ve outgrown their garage or basement space to build their supply chain.
“Businesses can come here and basically set up a headquarters,” Barber said. “They grow here with us before they’re able to afford or acquire their own office space.”
The Noblesville RISE, at 605 Sheridan Ave., will feature 14 buildings with 11,200-square-feet of dedicated office space and 124,320-square-feet of storage and warehouse space. The project includes 20 private offices and a shared workspace, as well as 118 storage and warehouse units.
Barber said the facilities should be open in the next four to six months.
The expansion into Noblesville is representative of RISE Commercial Districts’ own growth.
After launching in Castleton in 2010, the company expanded to Greenwood in 2017 and then Gahanna, Ohio, in 2018. This year, each of those locations was expanded, and Barber said the company is working under contract to bring new RISE Commercial Districts to Fort Wayne and Lewis Center, Ohio, in 2020.
Barber said five new warehouse buildings in Castleton are 60% pre-leased ahead of their opening later this month.
More than a third of companies that choose to locate in a RISE Commercial District are home-services companies. Barber said tenants may be lawncare, moving or pest control businesses with existing operations and a desire to open a new footprint within a few miles of any given day’s job site.
Many business owners already in a RISE Commercial District complex live in Hamilton County, Barber said, so Noblesville just made sense. And when they grow beyond what RISE can offer, Barber said, those businesses tend to relocate to a new facility they buy or build three-to-five miles from the RISE where they got started.
Aside from the facilities, Barber said tenants have access to free wifi, forklifts, flexible leasing terms and quarterly educational events that help growing companies better understand marketing, accounting, human resources and other topics.
“There’s just not anything like this that we’ve seen across the country, anyone that’s doing this hybrid approach,” Barber said.