The Inland Real Estate Group of Companies is buying a majority interest in U.S. self-storage operator Devon Self Storage Holdings. Devon, founded in 1988, manages 202 properties and about 109,000 units nationwide. It has owned, managed or developed more than 350 self-storage facilities in 27 states and three European countries. Inland entered the self-storage sector in 2016 and has built a $1.7 billion portfolio of established assets and development projects.
Source: IPE Real Estate
Jared Jones, the Argus broker affiliate representing Oklahoma, announced the sale of Dempewolf Mini Storage in Ponca City, OK. It has 36,355 rentable square feet. The original owner sold the facility to a regional private buyer. Argus Self Storage Advisors is based in Denver, CO. Source: PR.com
Versal announced the sale of Stowaway Storage in Rockport, TX. The property has 309 units totaling 34,626 NRSF and is about 35 miles from Corpus Christi. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented Curren Cos. Inc., the Texas-based seller. They also found the Texas-based private buyer.
The new owners of All-Season Storage at 215 S. Liberty Hill Road in Morristown, TN have hired Absolute Storage Management to manage the facility. It has 400 units totaling 41,918 rentable square feet for local communities, such as Russellville, Whitesburg and Jefferson City. Absolute is based in Memphis, TN. Source: PR.com
The new owners of Oxford Self Storage, 2403 S. Lamar Blvd., Oxford, MS hired Absolute Storage Management to manage the facility. It has 523 units totaling 58,120 rentable square feet. Its market includes Abbeville, Springdale and Lafayette Springs. Source: PR.com
Marcus & Millichap
Tango Development purchased an eight-property self-storage portfolio in the Dallas-Fort Worth market from private owners. It has a combined 225,275 rentable square feet. Danny Cunningham, senior vice president, and Brandon Karr, senior managing director, represented the seller and found the buyer. Sovereign Bank helped the transaction with an $11.7 million acquisition loan. The portfolio formerly was called Storage Bright Portfolio; now it’s called Overflow Garage and is managed by Lone Star Realty Group.
The properties include:
- Paradise North at 215 Hickory St., Paradise, TX
- Paradise South, 4002 TX-114, Paradise, TX
- Springtown Central at 1220 E. Highway 199, Springtown, TX
- Springtown North at 1715 FM 51, Springtown, TX
- Springtown South at 140 Adalida Lane, Springtown, TX
- Weatherford Central at 1211 Ranger Highway, Weatherford, TX
- Weatherford North at 2311 FM 51, Weatherford, TX
- Weatherford South at 3193 W. I-20, Weatherford, TX
