Inland Private Capital & Devon Self Storage Announce Delivery of Class-A Self Storage Property in New Jersey
September 9, 2024
Media Contact: Nicole Spreck, Inland Communications (630) 586-4896 nicole.spreck@inlandgroup.com
Inland Private Capital & Devon Self Storage Announce Delivery of Class-A Self Storage Property in New Jersey
Oak Brook, IL – Inland Private Capital Corporation (“IPC”), an industry leading real estate investment manager, and Devon Self Storage (“Devon”), one of the largest privately owned national self-storage developers, owners and managers announced today they have completed construction on an 86,700-square-foot state-of-the-art self-storage facility in Glassboro, New Jersey. This is the eighth IPC-Devon project delivered in a 10-property fund entirely comprised of self-storage assets in diverse markets throughout the nation.
“This newest property is ideally located on one of the main thoroughfares in Gloucester County and one mile from Rowan University,” commented Ken Nitzberg, co-CEO of Devon. “This asset is a top quality, state-of-the-art facility with 100 percent climate control, top-tier security and video surveillance.”
Located at 124 Delsea Drive South (formerly the Liscio’s Bakery facilities), the property offers two stories with elevators for easy access to 870 climate-controlled self-storage units. The facility also features a wide, centrally located vehicle drive-thru with high-speed roll-up doors for out-of-the-weather unloading, multiple unloading locations and epoxy finished flooring.
“Given the limited barriers to market entry, Class-A features and excellent location of this asset, demand has been strong and occupancy continues to rapidly increase since opening our doors last week,” commented Keith Lampi, CEO and president of IPC. “We look forward to serving the Glassboro community and continuing to collaborate with Devon.”
This property marks IPC-Devon’s second development in the New Jersey market. IPC and Devon are already working on a third self-storage asset comprised of 731 storage units under development in Pennsauken, New Jersey, with an estimated completion of Q1 in 2025.
###
About Devon Self Storage
Devon Self Storage Holdings, LLC, one of the largest privately owned national self-storage developers and operators, manages over 186 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.
About Inland Private Capital Corporation Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a member company of The Inland Real Estate Group of Companies, Inc., an industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of June 30, 2024, the firm had sponsored 317 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is recognized as a leading provider of securitized 1031 exchange opportunities, with assets under management (AUM) of more than $12.3 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.
For more information on Inland Private Capital Corporation, please visit www.inland-investments.com/inland-private-capital.