Inland & Devon Announce Completion of New Class-A Self-Storage Redevelopment in New Jersey
Alyssa Campbell
Inland CommunicationsOak Brook, IL – Inland Real Estate Investment Corporation (“Inland Investments”), an industry leading real estate investment manager, and Devon Self Storage (“Devon”), one of the largest privately owned national self-storage developers, owners, and managers and a member of The Inland Real Estate Group of Companies, Inc., announced they have completed construction of a 110,000-rentable-square-foot Class-A self-storage facility located in Camden, New Jersey.
Located at 1501 Admiral Wilson Boulevard in Camden, directly across the Delaware River from Philadelphia, the property formerly served as a multi-purpose warehousing and distribution facility. After complete demolition of the former facility, the property now consists of a three-story climate-controlled building, offering a total of approximately 1,070 storage units, a 24-hour security system, state-of-the-art flood gates and doors, and a drive-in area providing access to the main interior storage area.
“This self-storage redevelopment is a beneficial addition to Camden right along the heavily traveled route 30, which connects Camden and Philadelphia via the Benjamin Franklin Bridge,” said Greg Mackay, chief operating officer of Devon. “The property is located only two miles from the Delaware River and across the street from the Subaru of America North American headquarters and The Campbell’s Company corporate offices, as well as surrounding businesses and industrial facilities.”
The Camden redevelopment marks the 19th Inland Investments-Devon project delivered on behalf of investors in private offerings comprised of self-storage assets in diverse markets throughout the nation.
“Camden has experienced significant economic growth and development as the area invests heavily in infrastructure projects and waterfront redevelopment along the Delaware River,” said Nati Kiferbaum, chief strategy officer of Inland Investments. “The need for a top-tier self-storage facility has been underscored by the city’s notable increases in employment, investment and housing market activities. We look forward to serving the Camden market with another successful self-storage collaboration with Devon.”
Inland Investments’ and Devon’s current self-storage portfolio, in the aggregate, spans more than $2 billion in assets under management, underscoring each company’s leadership and commitment to the sector.
###
About Inland Real Estate Investment Corporation
Inland Real Estate Investment Corporation (“Inland Investments”), headquartered in Oak Brook, IL, is an industry-leading real estate investment manager and a member company of The Inland Real Estate Group of Companies, Inc. (“Inland”), one of the nation’s largest commercial real estate and finance groups. Named a Top Workplace by the Chicago Tribune for the past four years, Inland Investments specializes in offering public and private tax-advantaged, growth and income real estate solutions spanning virtually every sector of the commercial real estate market. Since 1968, Inland has engaged in the diverse facets of real estate, including property management, leasing, marketing, acquisition, real estate brokerage, development, redevelopment, construction, real estate financing and other related services, including a dedicated research team. Inland member companies have facilitated more than $56 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $16 billion across 42 states. Past performance is not a guarantee of future results.
About Devon Self Storage
Devon Self Storage Holdings, LLC, one of the largest privately owned national self-storage developers and operators, manages over 200 properties. Founded in 1988 by Ken Nitzberg, and now a member of The Inland Real Estate Group of Companies, Inc., Devon has established itself as a leader in the self-storage industry having owned, managed, or developed more than 350 self-storage facilities in 31 states and three European countries. Inland and Devon are headquartered in Oak Brook, Illinois.
For more information on Devon Self Storage, please visit www.devonselfstorage.com.
For more information on The Inland Real Estate Group of Companies, Inc., please visit www.inlandgroup.com.
