Devon Secures Management Of Its First Self-Storage Asset In Kansas

Devon Self Storage (Devon) has been awarded the property management for University Storage, a self-storage property in Lawrence, Kan., located near Kansas University and Haskell Indian Nations University. This will be the first Kansas-based property Devon manages through its third-party property management platform.

“We are thrilled to announce our partnership with the owners of University Storage,” said Justin Funcell, director of third-party management for Devon Self Storage. “Our team has dedicated substantial effort evaluating the location, understanding the targets, and creating a strategic plan to maximize property performance.”

The 74,000-square-foot self-storage property is located at 1601 W. 23^rd Street. Opened in 2017, University Storage offers 627 climate-controlled units with 24/7 security and RV and boat storage spaces. The property is currently 77 percent occupied.

“Expanding Devon’s footprint into a new market emphasizes the importance of third-party management to the Company,” commented Matt Tice, co-CEO and president of Devon. “From the beginning of the year to date, Devon’s owned and managed portfolio has grown 60 percent.”

Devon currently manages 183 properties for approximately a dozen property owners across the nation.