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The partners have redeveloped a former newspaper processing facility into 731 storage units.
The building previously served as a newspaper processing facility. Image courtesy of Inland Private Capital Corp.
Inland Private Capital Corp., in partnership with Devon Self Storage, has completed a new self storage conversion in Springfield, Mo. The 81,500-square-foot, Class A facility marks the ninth redevelopment delivery on behalf of an affiliate of IPC.
The building previously served as a newspaper processing facility and the home of The Springfield News-Leader publication since 1933. The property was destroyed by fire in 1947 and then rebuilt.
Decades later in 2002, a new printing press was added as an extension. In 2021, the property was sold to be converted into a self storage facility.
The building now features 731 units, of which approximately 75 percent are climate-controlled, ranging from 25 to 350 square feet. On-site amenities include interior drive-through, a management office, elevator, automatic pay, as well as dollies and carts. Located at 651 N. Boonville Ave., the property is less than half a mile from downtown Springfield and approximately 1 mile from Missouri State University.
Inland Private Capital’s portfolio includes 179 assets across 30 states. This year, the company along with Devon Self Storage delivered several self storage conversion projects. In January, the partners opened a former K-mart in Allentown, Pa., that was converted into a 91,787-square-foot storage facility.
Around that same time, the partnership also finalized the conversion of a former Sports Authority location. The 64,000-square-foot self storage facility now features 652 climate-controlled units. A more recent project was finalized this month in Warren, Mich. The partners converted a former manufacturing facility into an 87,000-square-foot storage property.
Devon Self Storage, Inland Private Capital Corporation
Yardi Companies and Affiliates
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