Brookwood Properties has opened its latest self-storage facility at 3910 Cypressbrook Drive NW, in Huntsville, Ala. The 850-unit property operates under the Storage Center brand. Rosehill Construction served as the general contractor for the development.
Brookwood Properties’ portfolio currently comprises 50 self-storage facilities—41 in Louisiana, three in Texas, three in Mississippi and one in Arkansas—amounting to 42,000 units across 5 million square feet.
The 106,600-square-foot, three-story facility features climate-controlled units ranging from 25 to 300 square feet. Amenities include 24-hour video surveillance, covered loading bays designated for moving vans and box trucks, as well as on-site retail.
The Huntsville facility is 3 miles northwest of the University of Alabama in Huntsville, respectively within 10 miles northwest of downtown and north of the U.S military base Redstone Arsenal.
The asset is one of 18 within a 3-mile radius, offering residents some 32 net rentable square feet per capita. As of May, there were four other self-storage properties under construction in the Huntsville market, set to add 277,830 rentable square feet to the area.
April saw 3,094 self-storage properties in all stages of development nationwide as per reports. The under-construction pipeline included 732 projects, representing 2.8 per cent of the total stock, down 10 basis points from the previous month. The report predicts a gradual slowdown in development activity in the near term.
