Devon Self Storage Nearly Doubles in Size, Reaches $2 Billion in AUM

Devon Self Storage, a large privately owned national self-storage developer, owner and manager and a member of The Inland Real Estate Group of Companies Inc., announced the addition of 96 self-storage assets – both new builds and acquisitions – across 31 states in 2024 and 2025. This brings the company’s total to 202 self-storage facilities, representing approximately $2 billion in assets under management.

“We’re proud to celebrate Devon’s achievement of reaching more than 200 self-storage facilities in our national portfolio,” said Matthew Tice, co-chief executive officer of Devon and senior vice president of Inland Real Estate Acquisitions LLC. “This milestone reflects our strategic focus adding nearly 100 self-storage facilities and doubling in size since 2024 through high-quality acquisitions and developments.

Over the summer, Devon completed construction of a 77,600-square-foot Class-A self-storage facility in Southfield, Mich., near Detroit’s northwest suburbs. The property was converted from an office building to a four-story, climate-controlled self-storage facility with 767 self-storage units. Also, it finished a slightly larger 80,000-square-foot Class-A self-storage facility in St. Louis; it features 797 units.

And previously reported by AltsWire in March 2025, Devon and Inland announced a 59,837-square-foot, Class A self-storage facility located in Springfield, Mass., with 601 units, drive-through capability, and security.

“We look forward to continuing this momentum across our portfolio, third-party services, and development pipeline,” added Tice.

This ranking reflects the company’s strong operational performance, strategic growth, and commitment to delivering high-quality storage solutions. The achievement of a 200-plus self-storage facility portfolio further reinforces Devon’s position as a top-tier operator in the national market.

To support Devon’s growth, the company also recently expanded its national workforce to more than 400 employees.

“This milestone and recognition reflect the hard work and dedication of our entire team,” said Ken Nitzberg, co-CEO of Devon. “We’ve focused on building a scalable, customer-first operation, and being named among the top operators in the country reinforces the impact of that approach. We’re proud of the progress we’ve made and are excited about the opportunities ahead.”

Headquartered in Oak Brook, Ill., Inland Real Estate Investment Corporation, i.e., Inland Investments, is a real estate investment manager and a member company of The Inland Real Estate Group of Companies Inc., one of the nation’s largest commercial real estate and finance groups. 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 inception, Inland has engaged in real estate, including property management, leasing, marketing, acquisition, real estate brokerage, development, redevelopment, construction, real estate financing and other related services. Inland member companies have facilitated more than $55 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $16 billion across 42 states.

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