Los Angeles, March 13, 2023 – North Palisade Partners, a Southern California-based investment and development firm, has announced the completion of construction and opening of its first self-storage facility located at 2200 Nadeau Street in Huntington Park, CA. The new three-story 133,000-square-foot facility sits on two acres of land and features more than 1,500 units. Called Palisade Nadeau Storage, the facility will be managed and operated by Extra Space Storage.
“When we acquired this property, we immediately recognized the immense opportunity to redevelop a defunct manufacturing building into a new state-of-the-art self-storage facility due to its surrounding population density and the fact it is an under-served market. Looking ahead we have several additional self-storage projects either under construction or planned and are seeking additional self-storage investment opportunities to complement our existing industrial property portfolio. We are actively targeting infill Southern California and Bay Area locations for further self-storage investment,” said North Palisade Partners Managing Partner Joe Mishurda. “Self-storage continues to be one of the brights spots in commercial real estate and we are attracted to the favorable fundamentals which are particularly pronounced in dense infill markets.”
The property’s location is in one of the densest areas of Los Angeles County with more than 490,000 people within a three-mile radius. To underscore the firm’s self-storage sector growth plans, North Palisade Partners has commenced construction on a second 260,106 square-foot self-storage facility at 1920 Randolph Street in Huntington Park.
North Palisade Partners specializes in industrial warehouse development and industrial outdoor storage (IOS). The firm identified the self-storage sector as a tangential complement to its existing industrial investments. Most recently, at the end of 2022, the firm acquired a two-acre IOS site in Rancho Dominguez. North Palisade Partners continues to actively source value-add development and acquisition opportunities throughout California and select Western US markets.