Inland, Devon Deliver New 797-Unit Self-Storage Property in St. Louis
Real estate investment manager Inland Real Estate Investment Corporation and Devon Self Storage – both of which are members of The Inland Real Estate Group of Companies Inc. – announced they have completed construction of a more than 80,000-square-foot Class-A self-storage facility located in St. Louis.
The 797-unit facility is conveniently located at 4222 Union Boulevard near Interstate 70 (I-70), a major east-west highway that runs through the city and Kingshighway Boulevard. The property was converted from a warehouse to a three-story, climate- controlled self-storage facility with elevators and a 24-hour security system.
“This property is ideally located near Washington University, University of Missouri – St. Louis and St. Louis University, Forest Park, and Busch Stadium,” said Greg Mackay, chief operating officer of Devon. “The area offers a blend of attractions, entertainment, and proximity to major institutions.”
The project follows a March 2025 project where Inland Investments and Devon completed construction of a nearly 60,000-square-foot, self-storage facility located in Massachusetts.
St. Louis ranks fifth nationally in the adaptive-reuse self-storage development trend, with approximately 75% of the city’s inventory now comprised of converted properties from prior uses.
“This is the 16th Inland Investments-Devon self-storage project delivered on behalf of investors in diverse markets throughout the nation,” said Keith Lampi, chief executive officer and president of Inland Investments. “St. Louis’s favorable demographic trends, including positive net migration, and an expanding household base are driving demand for storage space, which benefits our growing self-storage portfolio.”
Inland Investments’ current self-storage portfolio spans more than $1.8 billion in assets under management. Devon has built more than 350 self-storage facilities and currently manages 190 properties with a footprint in 31 states across the country and three European countries.
Earlier this month, AltsWire reported that Inland Investments had completed Evoni Apartments, a multifamily development located in Milwaukee’s Historic Third Ward district.
In other Inland Investments news, it promoted Jon Hoeg to senior vice president, portfolio manager – private funds in May 2025, and announced the April 2025 sale of Solaire Apartments, a 252-unit multifamily community located in Brighton, Colo., on behalf of Brighton Multifamily DST for $57.5 million. The sale resulted in a realized net equity multiple to investors of 1.6x.
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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