Lynwood Capital Partners has acquired a 358-unit self storage facility in Cheyenne, Wyoming, for $4,325,000, with the De Jong Self Storage Team at Colliers representing the buyer. The sale closed on October 14, 2026, just 47 days after the parties signed the letter of intent. Dylan de Jong, Colin Phelan, and Tom de Jong handled the buy-side representation for David Hanson, Principal of Lynwood Capital Partners. The seller was KO Storage of Minnetonka, Minnesota.
Located at 711 E. College Drive, the facility totals 45,103 rentable square feet and includes 350 storage units, of which 32 are climate-controlled and total 2,125 square feet. The property also features seven parking spaces and an office. At closing, the facility was 83.0% occupied, and the purchase price equates to approximately $96 per rentable square foot.
The acquisition is part of Lynwood Capital Partners’ strategy to build a portfolio of self storage properties with the longer-term goal of selling the assembled portfolio. The firm targets properties with a value-add component, preferably through operational improvements such as rental rate management and better marketing. It also considers properties with excess land for future expansion. “You guys were the consummate experts, careful, deliberate, patient, directive as required, and vigilant during the transaction process. Really, really appreciate the guidance. Learned a ton,” said Hanson.
Tom de Jong, Executive Vice President at Colliers, noted that as institutional capital concentrates in the largest markets, other buyers are pushed into secondary and tertiary markets like Cheyenne, where they can still find a good return on their investment. “Lynwood came to us with clear acquisition criteria. Our job was to find an asset that fit them, underwrite it carefully, and get it to the closing table,” he said.
About half of the team’s transactions this year have involved representing buyers, and the team recently formalized that work into a buyer representation service. This service pairs Tom de Jong with Dylan de Jong and Colin Phelan to source, screen, and underwrite self storage opportunities against each buyer’s acquisition criteria.
The De Jong Self Storage Team at Colliers provides full-lifecycle brokerage and advisory for self storage owners, developers, and investors nationwide, from site selection and development through stabilized asset sales and buy-side representation. Led by Tom de Jong alongside his son Dylan de Jong and Colin Phelan, the team has closed more than $2 billion in self storage transactions across 32 states.
The transaction highlights the ongoing interest in secondary and tertiary markets for self storage investments, where buyers can achieve favorable returns as institutional capital focuses on larger markets. For Lynwood Capital Partners, the acquisition adds a value-add opportunity to its growing portfolio, with potential for operational improvements and future expansion.
