What's Happening?
Inland Real Estate Investment Corporation and Devon Self Storage have completed the construction of a 77,600-square-foot self-storage facility in Southfield, Michigan. The facility, located at 24700 Northwestern Highway, has been converted from an office building into a four-story, climate-controlled self-storage space with 767 units, a 24-hour security system, and a covered loading area. This project is part of a series of self-storage developments by IPC-Devon, aimed at diversifying investment offerings across the nation.
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Why It's Important?
The completion of this facility represents a strategic expansion in the self-storage industry, catering to increasing demand for secure and accessible storage solutions. The project contributes to the economic development of Southfield, providing local residents and businesses with enhanced storage options. Inland Investments' growing portfolio, valued at over $1.8 billion, reflects the robust market for self-storage assets and the potential for continued investment in this sector.
