Devon Self Storage Portfolio Grows to More than 170 Properties

Posted by Modern Storage Media on Jul 25, 2024, 8:52:24 AM

Devon Self Storage, a member of The Inland Real Estate Group of Companies, Inc. , announced today it has assumed the property management contracts for 19 self-storage properties in the following states:

Arizona (5)
Florida (1)
Georgia (2)
Kentucky (2)
Tennessee (2)
Texas (5)
Oregon (1)
Washington (1)

Combined, the properties total 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,” commented Ken Nitzberg, Co-CEO of Devon. “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 percent, 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.