DEVON SELF STORAGE MANAGEMENT PORTFOLIO SURGES WITH THE ADDITION OF 32 SELF-STORAGE ASSETS IN FIVE STATES
Nicole Spreck
Inland Communications
(630) 218-8000 Ext. 4896
nicole.spreck@inlandgroup.com
June 12, 2024
Oak Brook, IL – Devon Self Storage (“Devon”), a member of The Inland Real Estate Group of Companies, Inc. (“Inland”), announced today it has assumed the property management contracts for 32 self-storage properties in Louisiana (9), Mississippi (8), North Carolina (4), South Carolina (5) and Texas (6), totaling approximately 2 million square feet. The facilities will be integrated onto the Devon platform, including being added to www.devonselfstorage.com where customers can address their storage needs.
“We are thrilled with the rapid growth of our self-storage management portfolio since becoming a member company of Inland and leveraging the synergies of the Inland platform,” commented Ken Nitzberg, Co-CEO of Devon. “The addition of these 32 properties increases our owned and managed portfolio by 27 percent, to more than 150 properties, and we remain committed to doing what we do best — providing best-in-class self-storage services and operational efficiencies for customers and owners.”
The average occupancy of the 32 new facilities is approximately 83 percent, bringing the total units owned and managed across the portfolio to more than 86,000.
Devon currently manages 152 properties for approximately a dozen property owners across the nation.
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About Devon Self Storage
Devon Self Storage, one of the largest privately owned national self-storage developers and operators, manages over 152 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 27 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.