Inland Private Capital Corporation (IPC), an industry leading real estate investment manager, and Devon Self Storage Holdings (US) LLC (Devon), a privately held national storage operator and developer, announced the delivery of a 799-unit self-storage property located in Macon, Georgia, and a 777-unit self-storage property located in Kenosha, Wisconsin. The openings mark the fifth and sixth self-storage redevelopment deliveries on behalf of an affiliate of IPC.
Formerly Kmart locations, the single-story buildings were acquired in 2021 and redeveloped into climate-controlled self-storage facilities served by a drive through and on-site management offices. The Macon property also offers traditional drive-up non-climate-controlled storage units. These redeveloped facilities are ideally located with direct visibility and access along major thoroughfares to serve dense housing populations in Kenosha and Macon’s storage markets. Both markets also have renter-occupied households higher than national averages, which is typically indicative of self-storage demand.
To date, IPC’s self-storage portfolio includes 176 open properties across 30 states. On average, assets in IPC’s stabilized portfolio of self-storage assets are approximately 85% occupied.
