New York City based Andover Properties closes on approx. 56,000 SF “Capital Self Storage” in Raleigh NC
Andover Properties, LLC (dba STORAGE KING USA) – a private Real Estate Investment Company focusing on Self-Storage enters Raleigh North Carolina market with 56,000 SF acquisition.
Andover Properties, LLC (dba Storage King USA) has just acquired Capital Self Storage – a 56,000 SF Self Storage facility in Raleigh North Carolina. Andover closed on the transaction in December of 2014.
The re-branded Storage King USA is located at 315 Hubert Street, Raleigh, NC 27603 and features 276 Climate Controlled self-storage, warehouse and office rooms totaling 56,000 net rentable square feet. The property also contains 30 uncovered Boat/RV surface parking units. Property amenities include indoor climate controlled storage units as well as perimeter fencing and gated access.
This is the first foray into the Raleigh North Carolina market for New York City based Andover which owns and operates 16 total Self-Storage facilities in Fayetteville North Carolina, Florida, New Jersey, Pennsylvania, Maryland and Tennessee 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.