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PHILADELPHIA-Emeryville, CA-based Devon Self-Storage has bought a two-story, 165,000-sf warehouse building on 3.5 acres at 10-12 Oregon Ave. for more than $2 million, or more than $12.12 per sf. It will invest $5 million in renovation to convert the building, now used for record storage, for self-storage use.

The company is relocating from a previous Philadelphia CBD location on Callowhill Street. The Oregon Avenue site is adjacent I-95, giving Devon more immediate access to the Center City market.

Patrick J. Green, senior managing director of the local office of New York-based Insignia/ESG, represented the owner, locally based Oregon Avenue Associates, in the sale.

Devon is among the largest US-based self-storage companies. It operates self-storage facilities in 15 states, primarily in the East from New England through Florida, and in the Netherlands, France and Germany.

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