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Palisade Nadeau Storage is our first self-storage development that was delivered in Q1 2023. Extra Space Storage (NYSE: EXR) will handle the management and operations of the property. Totaling 109,045 square feet, the facility will be comprised of 1,524 units (averaging 95 SF), including 477 lockers, across two stories and a cellar. The storage units range in size from 25 square feet to 300 square feet. Each locker is 20 square feet. Of the 1,524 total units, the bulk will be traditional 5x10, 10x10 and, 10x15 units to meet the local market demand. This development will feature climate-controlled units and an enclosed design, enhancing security and providing covered loading to tenants.
The property is ideally located at the intersection of Nadeau Street and South Alameda Street providing easy access to the I-110, I-105, and the I-710. Furthermore, the property is located in the central Los Angeles submarket of Huntington Park, surrounded by more than 1.1 million residents living within a 5-mile radius.