April 30, 2020
York Developments purchased a 1.16-acre land site in New Orleans with plans to develop a three-story, Class A self-storage facility. The project is envisioned for 836 climate-controlled units that will be branded under SpaceBox Storage.
The site at 1125 S. Liberty St. is within a Qualified Opportunity Zone. The infill location in New Orleans’s CBD has 300 feet of frontage along the south side of Earhart Boulevard (Pontchartrain Expressway Frontage Road), where traffic counts exceed 151,000 vehicles.
JLL’s Steve Mellon, Brian Somoza and Greg Riera marketed the property on behalf of the seller, Baranof Holdings.
Mellon says, “York Developments is developing SpaceBox Storage in an infill location with excellent exposure in a dense, growing market with limited supply. The lack of supply in the immediate area due to the countless challenges new development faces made this land site that is already fully entitled and permitted for a self-storage development attractive.”
For comments, questions or concerns, please contact Dennis Kaiser