Devon Self Storage Grows Portfolio to Over 170 Properties
Devon Self Storage, a member of The Inland Real Estate Group of Companies, Inc., has assumed the property management contracts for 19 self-storage properties, including five each in Arizona and Texas, two each in Georgia, Kentucky and Tennessee, and one each in Florida, Oregon and Washington, totaling approximately one 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.
“Since the beginning of the year, we’ve added 62 properties to Devon’s owned and managed self-storage portfolio,” said Ken Nitzberg, Devon co-CEO. “This immense amount of growth is a testament to the synergies resulting from the Inland acquisition of Devon and we look forward to continuing the expansion of our national footprint.”
The average occupancy of the 19 new facilities is approximately 76%, bringing the total units owned and managed across the portfolio to more than 95,000. Devon currently manages 171 properties for approximately a dozen property owners across the nation.
