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Inland Private Capital and Devon Self Storage have opened a new facility at a former Sports Authority location in Hazlet, NJ

Inland Private Capital, Devon Self Storage Deliver Hazlet Facility

Inland Private Capital Corporation (IPC), a real estate investment manager, and Devon Self Storage Holdings (US) LLC have delivered a 652-unit self-storage property located in Hazlet, NJ. The opening marks the fourth redevelopment delivery on behalf of an affiliate of IPC. 

The single-story building, formerly a Sports Authority located approximately 30 miles southwest of NYC and 50 miles northeast of Philadelphia, was acquired in 2021 and redeveloped into a 64,000-square-foot,self-storage facility. Hazlet’s undersupplied market combined with the property’s location on Route 35 and adjacency to The Home Depot store position the asset well. 

“Self-storage continues to prove its recession-resiliency with strong fundamentals in occupancy and rent growth,” said Keith Lampi, president and CEO of IPC. “We are thrilled to have recently repurposed more than 230,000 square feet of commercial real estate into self-storage facilities with favorable demographics and demand drivers.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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