In Warren, Michigan, Inland Private Capital Corporation and Devon Self Storage Holdings have successfully completed a self-storage property with 807 units. The facility spans 87,000 square feet and was previously a vacant manufacturing center measuring at 94,000 square feet.
The majority of the units offer climate-controlled conditions and feature an interior drive-through lane along with a management office. Plans are also in place to convert the remaining land and parking area into exterior non-climate controlled space by 2023.
This development marks IPC’s eighth successful self-storage project located only thirteen miles north of Detroit. With an average occupancy rate of approximately eighty-four percent across thirty states, IPC currently operates a portfolio of one hundred seventy-eight properties in this sector. “We remain confident in our investment platform as the self-storage industry continues to thrive,” stated Keith Lampi, president and CEO of IPC.
The article titled “Vacant Facility Converted into Michigan Self-Storage Property” was originally published on Connect CRE.
