Brookwood Properties Completes New Orleans-Area Self Storage Project
The new 1,100-unit development expands the company’s Louisiana portfolio to 39 facilities.
Image by Self Storage via Wikimedia Commons
Brookwood Properties has opened a new 1,100-unit self storage facility in the New Orleans suburb of Kenner, La.
The 20.6-acre property at 1529 32nd Street consists of one single-story building totaling 107,050 rentable square feet. All units feature climate control and vary in size from 25 to 300 square feet.
Managed by Life Storage, the property is one of nine self storage facilities within a 3-mile radius that serve a single-family residential area north of the New Orleans Airport. The facility is 12 miles from central New Orleans, which can be reached through the nearby Interstate 10.
The Brookwood portfolio comprises 41,640 units across 52 self storage facilities, of which 39 are situated in Louisiana. According to its website, the company also plans to expand its footprint in Arizona and Alabama.
The self storage sector continues to ride tailwinds across the U.S. Street-rate rents for 10×10 climate-controlled units increased by 12.8 percent, while rates for non-climate-controlled units of similar size rose by 10.7 percent.
