Westport Properties

Los Angeles' development boom has hit Compton. Westport Properties has acquired a land site in the market to develop a self-storage facility. In addition to the development of the self-storage facility, the developer is also making a significant investment in the community by building a pocket park and an adjacent sports field for little league. Construction on the 1,390-unit self-storage facility will being next year, and the property will deliver in 2019.

“There is a lot of different product types that are able and willing to pay high prices for properties. It was very difficult to find a site that worked for us,” Charles Byerly, president and CEO of Westport Properties, tells GlobeSt.com. “There is a lot of competition in Compton, as well as the surrounding markets. This market is becoming very difficult to get into.”

With the competition in the market, the infrastructure investment helped to gain community support for the development. The investment includes Parmalee Pocket Park with new landscaping, pedestrian pathways and seating and a donation to the Compton Little League team. “We like to get involved in the community. It is a good partnership, and it helped alleviate some concerns about what self-storage facilities bring to a community,” says Byerly. Historically some of those have been negative, and we like to bring a positive up-front spin. We want people to know that we are there as part of the community. In this case, we asked what we could do to help out the community, and these were the things that the city suggested that would bring community awareness and pride to the immediate area. We were happy to do that.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.