North Palisade Partners, a development and investment firm focused on industrial, self-storage and industrial outdoor storage, has expanded its self-storage platform, hiring industry veteran Steve Cobbs to lead self-storage for the firm. With nearly 30 years of commercial real estate experience, Cobbs was named managing director of North Palisade Self Storage. Before joining North Palisade, Cobbs most recently served as a director at Invesco Real Estate where he was the self-storage sector lead.
Cobbs will hold responsibility for self-storage asset acquisitions, overseeing the deal sourcing, due diligence and transaction executions. He will also be responsible for asset management functions related to the 330,000 square feet of self-storage assets already held by North Palisade and additional assets expected to be added to its portfolio. He will also be involved with site selection and development. The company plans to aggregate between $400 million and $500 million of self-storage assets over the next 36 months.
Joe Mishurda, managing partner of Los Angeles-based North Palisade, said, “The self-storage asset class has emerged as a growing aspect of North Palisade’s overall real estate investment portfolio. That growth has led to a need for a sector-specific team to continue building and maintaining our burgeoning portfolio. Steve’s acute focus on the self-storage sector and impressive portfolio-building track record in this asset class, combined with a career that spans nearly three decades, makes him an ideal complement to our team and to lead our self-storage platform.”
