New York City based Andover Properties closes on approx. 100,000 SF “Pineapple Plaza and Mini Storage” in Fort Pierce FL
Andover Properties, LLC (dba STORAGE KING USA) – a private Real Estate Investment Company focusing on Self-Storage expands Florida footprint with Fort Pierce acquisition.
Andover Properties, LLC (dba Storage King USA) has just acquired Pineapple Plaza and Mini Storage – a 67,000 SF Self Storage and approximate 40,000 SF Retail property in Fort Pierce Florida. Andover closed on the transaction in November of 2014.
The rebranded property is located at 4892 Okeechobee Road, Fort Pierce, FL 34947 and features a re-branded Storage King USA with 643 Climate and Non-Climate Control self-storage rooms totaling 67,000 net rentable square feet of storage. The property also contains 16 uncovered Boat/RV surface parking units as well as close to 40,000 of retail space. Property amenities include indoor and outdoor storage units, some of which are climate-controlled as well as perimeter fencing and gated access.
This is the first foray into the Fort Pierce Florida market for New York City based Andover which owns and operates 16 total Self-Storage facilities in Miami, Pensacola and Tallahassee Florida as well as New Jersey, Pennsylvania, Maryland, Tennessee and North Carolina under its trade name Storage King USA (storagekingusa.com).
About Andover Properties, LLC
Andover Properties, LLC, is an investor, owner, operator and developer of real estate throughout the United States, based in Manhattan, New York. The firm focuses on the acquisition, development and management of industrial, retail and self-storage facilities primarily in the North and South East. Andover is regarded as a full-time leading sponsor in this area with expertise in all aspects related to these product types including acquisitions, asset management, leasing, property management, development and dispositions. Its investors and partners include global institutional real estate private equity funds and high net worth individuals.
Since inception in 2003, Andover Properties, LLC has owned self-storage assets valued over $175 million through developing, acquiring or purchasing loans totaling over 2.1 million rentable square feet and over 18,000 units. Currently the firm owns and manages self-storage facilities in 6 states totaling over 1 million rentable square feet and 9,300 units. Andover Properties, LLC manages and operates its facilities under its own brand Storage King USA Self-Storage. (storagekingusa.com)
Andover Properties, LLC is solely owned by Brian and William Cohen.