January 27, 2016

Andover Properties closes on approx. 200,500 SF “Triangle Portfolio” in North Carolina and Virginia

Andover Properties, LLC has recently acquired the Triangle Self Storage Portfolio, which consists of three Class-A properties totaling over 200,000 square feet.  Two of the properties are in the Raleigh, NC metropolitan area and the third is on the outskirts of Roanoke, Virginia.

Between them, the properties have 1,447 self-storage rooms, in addition to parking. Property amenities include perimeter fencing, gated access, climate control, 24 hour video surveillance, and, for the Raleigh facilities, elevator access to upper stories. The Virginia facility also has a moving truck for the convenience of renters.

New York City-based Andover Properties owns and operates a total of 22 self-storage facilities in Florida, New Jersey, North Carolina, Maryland, Pennsylvania, Tennessee and Virginia 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 a 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 $200 million, totaling over 2.3 million rentable square feet across 19,500 units.  Currently the firm owns and manages 22 self-storage facilities in 7 states totaling over 1.47 million rentable square feet and 12,500 units. Andover Properties, LLC manages and operates its facilities under the brand Storage King USA Self-Storage (storagekingusa.com).

Andover Properties closes on approx. 200,500 SF “Triangle Portfolio” in North Carolina and Virginia