Devon Self Storage Takes Over Property Management of Inland Properties in Houston
By Staff
Devon Self Storage, a member of The Inland Real Estate Group of Companies, Inc., has assumed the property management of four self-storage properties located in Houston. The properties are part of Inland’s Self Storage Portfolio III DST.
The collection of single-level properties, totaling 1,775 units and 257,000 square feet, includes a 479-unit facility at 9840 Bissonnet Street; a 417-unit property at 13800 Veterans Memorial Drive; a 500-unit facility at 1918 Gessner Road; and a 379-unit property at 6300 West 43rd Street.
“We are pleased to add these four high-quality self-storage facilities to our rapidly growing property management portfolio,” commented Matthew Tice, co-CEO and president of Devon. “The Inland and Devon teams have dedicated significant efforts in evaluating locations, understanding the market audience, and creating a strategic plan to maximize every property’s performance. From the beginning of the year to date, Devon’s owned and managed portfolio has grown 105%.”
Inland acquired a majority interest in Devon Self Storage earlier this year. Since then, Inland and Devon have delivered a nearly 87,000-square-foot self-storage facility in New Jersey and completed construction on an 85,300-square-foot self-storage facility in Lubbock, Texas.
Founded in 1988 and headquartered in Oak Brook, Ill., Devon Self Storage Holdings, LLC, is one of the largest privately owned national self-storage developers and operators, having owned, managed, or developed more than 350 self-storage facilities in 32 states and three European countries. Devon currently manages 191 properties for approximately a dozen property owners across the nation.
Also headquartered in Oak Brook, the Inland Real Estate Group of Companies, Inc. is one of the nation’s largest commercial real estate and financial organizations. Cumulatively, Inland employs more than 1,000 people nationwide. Inland member companies have owned and managed hundreds of millions of square feet of various commercial property types in 49 states.
