Inland Private Capital Corp. (IPC), together with Devon Self Storage Holdings, a privately held national storage operator and developer, has opened its latest self-storage conversion in Allentown, Pa.
The opening marks the third delivery on behalf of Self-Storage Qualified Opportunity Fund, an IPC-sponsored Qualified Opportunity Fund.
The 91,787-square-foot facility was previously home to K-Mart and acquired in September 2021. Phase I of the completed conversion features 57,287 square feet of rentable, climate-controlled space served by an interior drive-through.
Phase II, which is scheduled to be completed by April 2023, will include an additional 34,500 square feet of rentable space with exterior drive-up access. Upon completion, the property is expected to provide 769 drive-in and traditional drive-up units to Allentown and the surrounding communities.
The Allentown asset is one of 10 self-storage redevelopment projects being developed on behalf of Sel
