Colliers' De Jong Self Storage Team Closes $4.325 Million Cheyenne Acquisition for Lynwood Capital Partners

The De Jong Self Storage Team at Colliers represented Lynwood Capital Partners in its $4,325,000 acquisition of a 358-unit self storage facility at 711 E. College Drive in Cheyenne, Wyoming. The sale closed on October 14, 2026, 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.

The facility totals 45,103 rentable square feet and has 350 storage units, including 32 climate-controlled units totaling 2,125 square feet, along with seven parking spaces and an office. The property was 83.0% occupied at closing, and the purchase price equates to approximately $96 per rentable square foot. The facility now operates as StorageSense – Cheyenne.

The transaction matters because it reflects a broader shift in where self storage investment capital is flowing. As institutional capital concentrates in the largest markets, it pushes other buyers into secondary and tertiary markets like Cheyenne, where they can still find a good return on their investment, according to Tom de Jong, Executive Vice President at Colliers. For Texas readers and operators, that dynamic is a signal that competition for well-located storage assets is spreading beyond the state's major metros into smaller markets across the region, creating both opportunities and pricing pressure for local buyers and sellers.

Lynwood Capital Partners is acquiring self storage properties to build a portfolio, 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. The Cheyenne acquisition fits that strategy, given the facility's 83.0% occupancy at closing, which leaves room for operational upside.

Hanson credited the brokerage team's discipline throughout the process. You guys were the consummate experts, careful, deliberate, patient, directive as required, and vigilant during the transaction process, he said, adding that he learned a ton from the guidance. Tom de Jong said Lynwood came to the team with clear acquisition criteria, and the team's job was to find an asset that fit those criteria, underwrite it carefully, and get it to the closing table.

The deal also highlights the growing buy-side business at Colliers. About half of the team's transactions this year have involved representing buyers. The team recently formalized that work into a buyer representation service, pairing 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 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, and has closed more than $2 billion in self storage transactions across 32 states.