Inland, Devon Complete Self-Storage Redevelopment in Michigan
Real estate investment manager Inland Real Estate Investment Corporation, or Inland Investments, and Devon Self Storage – both of which are members of The Inland Real Estate Group of Companies Inc. – announced they have completed construction of an approximate 85,330-square-foot Class-A self-storage facility located in Fraser, Mich.
The asset is part of the Self-Storage Qualified Opportunity Fund II, L.L.C., offering which launched in December 2021 and closed in winter 2022 after raising nearly $103 million, according to past reporting by AltsWire.
Located at 31475 Utica Road in Fraser, approximately 15 miles northeast of downtown Detroit, the property formerly served as a light industrial facility originally built in 1975. It now consists of a two-story climate-controlled building, along with various exterior non-climate-controlled buildings, offering a total of approximately 750 storage units, a 24-hour security system and a drive-in area providing access to the main interior storage area. Excess parking areas provide easy access for loading and unloading.
“Surrounded by similar industrial properties and businesses, this self-storage redevelopment is a beneficial addition and reflection of Fraser’s role as a hub for manufacturing and light industrial operations,” said Greg Mackay, chief operating officer of Devon. “The property’s location benefits from proximity to the local Fraser Department of Public Safety, the Selfridge Air National Guard Base, as well as surrounding community amenities, shops, restaurants, and residential neighborhoods.”
This project marks the 20th collaboration between Inland Investments and self-storage developer, owner, and manager Devon on behalf of investors participating in private offerings focused on self-storage assets.
“The demand for self-storage in Fraser is steady, spanning personal, business, and vehicle storage in need of climate-controlled options due to Michigan’s variable weather conditions,” said Nati Kiferbaum, chief strategy officer of Inland Investments. “We look forward to serving the Fraser community and continue our collaboration with Devon to bring top-tier self-storage properties to market.”
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. Its current self-storage portfolio with Inland represents approximately $2 billion in assets under management.
It’s been a newsworthy week for Inland Investments. After nearly a quarter century with The Inland Real Estate Group of Companies, Keith Lampi has stepped down from his senior executive roles overseeing Inland’s alternative investment businesses, marking the end of a career that began with an internship at the firm and culminated in leadership of its expansive real estate investment platform.
In an SEC filing by IPC Alternative Real Estate Income Trust, Inc., one of Inland Investments’ sponsored non-traded real estate investment trusts, the company disclosed that Lampi resigned as chief executive officer and chairman of the REIT’s board, effective Oct. 20, 2025, and that the departure was not due to any disagreement with the company or its affiliates.
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 $56 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $17 billion across 43 states.
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