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 handling the buy-side representation. The sale closed on October 14, 2026, just 47 days after the parties signed the letter of intent, according to a press release from the brokerage firm.
The property, located at 711 E. College Drive, totals 45,103 rentable square feet and includes 350 storage units, 32 of which are climate-controlled and comprise 2,125 square feet. The facility also features seven parking spaces and an office. At closing, the property was 83.0% occupied, and the purchase price equates to approximately $96 per rentable square foot. The facility now operates under the StorageSense – Cheyenne brand.
Dylan de Jong, Colin Phelan, and Tom de Jong of Colliers represented David Hanson, Principal of Lynwood Capital Partners. The seller was KO Storage of Minnetonka, Minnesota. The transaction underscores a broader trend of institutional capital concentrating in primary markets, which is pushing other buyers toward secondary and tertiary markets like Cheyenne in search of favorable returns.
“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,” said Tom de Jong, Executive Vice President at Colliers. “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.”
Lynwood Capital Partners is actively 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. Hanson praised the Colliers team: “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.”
The De Jong Self Storage Team has completed more than $2 billion in self storage transactions across 32 states. About half of the team’s transactions this year have involved representing buyers, leading the team to formalize a buyer representation service that 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 Cheyenne deal exemplifies the team’s ability to execute quickly and efficiently, closing in under seven weeks from letter of intent to final sale.
