11 Nov Extra Space Storage
New Orleans, LA
BCDC and GSK Developments have created partnered to co-develop this project, located at 2156 Agriculture Street in the Gentilly neighborhood of New Orleans, LA. The new climate controlled self-storage facility will be ~ 75,000 NRSF and include 855 units; the structure will be a five-story steel and masonry structure with a decorative skin, drive thru covered loading dock, two (2) service elevators, and state of the art CCTV and card access security systems.
The property will meet the underserved and growing demand for self-storage in this New Orleans submarket and the surrounding area. Current and historical occupancy levels for existing facilities in New Orleans average in the 85-90% range, with comparable quality facilities in excess of this range. This level of occupancy, combined with a stable population and local economy, an under-supplied market, the proximity to major employers supports more demand for professionally managed self-storage.
The property will be branded and professionally managed by Extra Space Storage asset management.
New Orleans, Louisiana
GP Equity, Completion Guaranty, Co-Sponsor
Co-Sponsors: BCDC/GHK Developments Inc.
Lender: Great Southern Bank
Architect: Jared Ducote Architecture
General Contractor: WIMCO Corp.
Climate Controlled Self-Storage