Inland Private Capital announces delivery of a class A self-storage property in Michigan
Inland Private Capital Corporation (IPC) and Devon Self Storage Holdings (U.S.) have announced the delivery of an 807-unit self-storage property located in Warren, Mich., approximately 13 miles north of downtown Detroit.
Located off Interstate 696, the former 94,000-square-foot vacant manufacturing facility was converted into an 87,000-square-foot, state-of-the-art self-storage facility. Approximately 75 percent of the units offer climate-controlled space, with an interior drive-through lane and management office. The parking area and unimproved land will be converted to exterior non-climate-controlled space, which is expected to be delivered in late 2023.
“The self-storage sector continues to deliver and remains a high-conviction strategy for our investment platform,” commented Keith Lampi, president and CEO at IPC. “The resilience the sector continues to demonstrate is directly tied to the durability of its tenant demand, which we believe will drive the perform