Self Storage Acquisitions
Since our beginnings in 1993, we have acquired 99 facilities. Of those facilities, 65 percent already existed, with the rest being conversions and ground-up developments. We remain interested in areas with current facilities or the potential for new facilities.
Determine If You Fit Our Market
Our geographic spread has been:
- East: 55 percent
- West: 6 percent
- Midwest: 22 percent
- Southeast: 10 percent
- South: 4 percent
- Southwest: 2 percent
Devon’s current focus is on the 20 largest Standard Metropolitan Statistical Areas (SMSAs), with primary emphasis on markets that meet the following qualifications:
- Populations of over 100,000 people within a three-mile trade area
- Average rental rates of at least $125 for a 10×10 unit
- Deemed under-served based upon household-to-market ratios
Devon’s acquisition criteria include land and conversion candidates that have strong retail components, including access, visibility, and traffic counts. Likewise, we’re also interested in existing sites that need lease-up, like facilities where ownership is looking for operations at a larger level.
Contact Us About an Acquisition Today
We respond quickly to all offering submittals, and we pride ourselves on being open and communicative throughout the entire process. If you’re interested in an acquisition by Devon and have property or land that you feel meets our criteria, contact us with your information.
