Devon Secures Management of its First Self-Storage Asset in Kansas
Devon Secures Management of its First Self-Storage Asset in Kansas
Oak Brook, IL – Devon Self Storage (“Devon”) announced today it has been awarded the property management for University Storage, a self-storage property in Lawrence, Kansas, located near The University of Kansas and Haskell Indian Nations University. This will be the first Kansas-based property Devon manages through its third-party property management platform.
“We are thrilled to announce our partnership with the owners of University Storage,” commented Justin Funcell, director of Third-Party Management, Devon Self Storage. “Our team has dedicated substantial effort evaluating the location, understanding the targets, and creating a strategic plan to maximize property performance.”
The 74,000-square-foot self-storage property is located at 1601 W. 23rd Street. Opened in 2017, University Storage offers 627 climate-controlled units with 24/7 security and RV and boat storage spaces. The property is currently 77 percent occupied.
“Expanding Devon’s footprint into a new market emphasizes the importance of third-party management to the Company,” commented Matt Tice, co-CEO and president of Devon. “From the beginning of the year to-date Devon’s owned and managed portfolio has grown 60 percent.”
Devon currently manages 183 properties for approximately a dozen property owners across the nation.
About Devon Self Storage
Devon Self Storage Holdings, LLC, one of the largest privately owned national self-storage developers and operators, manages over 183 properties. Founded in 1988 by Ken Nitzberg, and now a member of The Inland Real Estate Group of Companies, Inc., Devon has established itself as a leader in the self-storage industry having owned, managed, or developed more than 350 self-storage facilities in 36 states and three European countries. Inland and Devon are headquartered in Oak Brook, Illinois.
For more information on Devon Self Storage, please visit www.devonselfstorage.com.
For more information on The Inland Real Estate Group of Companies, Inc., please visit www.inlandgroup.com.