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 letter of intent was signed, according to a press release. The facility, located at 711 E. College Drive, totals 45,103 rentable square feet and was 83.0% occupied at closing. The purchase price equates to approximately $96 per rentable square foot. The property includes 350 storage units—32 of which are climate-controlled and account for 2,125 square feet—along with seven parking spaces and an office. It now operates as StorageSense – Cheyenne.
The acquisition is part of Lynwood’s strategy to assemble 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, and it also considers properties with excess land for future expansion. 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 deal underscores a broader trend in the self storage investment market: 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,” he added. Hanson praised the team’s guidance, stating, “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.”
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, 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 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 acquisition matters because it illustrates how capital is flowing into smaller markets, potentially increasing competition and pricing for self storage assets in areas that were previously overlooked. For Lynwood, the Cheyenne facility offers a value-add opportunity through operational improvements, and the quick closing timeline demonstrates the team’s ability to execute efficiently. As more buyers target secondary and tertiary markets, deals like this could become more common, shaping the investment landscape for self storage.
