The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of a brand-new property located in the New Orleans, LA metro area.
Take advantage of the opportunity to acquire an all-new, modern self-storage property located in a commercial zone surrounded by a highly residential section of New Orleans. Affectionately known as “The Big Easy,” this Southern metro is home to 1,271,845 residents—making it the 46th largest city. The city has been steadily recovering since Hurricane Katrina in 2005. Now at 80% of its pre-Hurricane Katrina population levels and bolstered by maritime solid bulk cargo, oil, and tourism sectors, New Orleans is on pace to make a full recovery over the next few years.
Located on Agriculture St just off Elysian Fields Ave, this facility is situated in a heavily commercial area supported by almost 60,000 households within a three mile radius, conveniently next door to the Habitat for Humanity ReStore. This sleek, modern, 75,075 square-foot facility was completed in 2021 and has seen incredible lease-up velocity, so far. For convenience and peace of mind, climate-controlled units are available, and personal belongings are protected by a video surveillance system and electronic gate access. And, with a total of 819 rentable units, the facility offers considerable revenue growth opportunities with 49.1%/48.4% physical occupancy and economic occupancy at 22.70%.
Overall, this sale presents a rare opportunity for a savvy investor to acquire a new facility in a sought-after Southern metro area where self-storage demand continues to grow with the population.