Andover Properties Closes on Acquisition of Two Self Storage Properties in Phoenix, AZ
Andover Properties, LLC (dba Storage King USA) has recently acquired two self storage properties in Phoenix, AZ as part of a joint venture. Combined, the properties total nearly 111,000 square feet of rentable space.
Brian Cohen, Co-Founder and President of Andover Properties, said “This transaction represents a continuation of our strategy to grow and operate a best-in-class self storage platform in high-growth markets across the U.S. As we look ahead, we are focused on acquiring everything from individual assets to large portfolios as we continue to grow the platform.”
Andover Properties will manage the properties under its Storage King USA brand. New York City-based Andover currently owns and operates self storage facilities in Arizona, Florida, Maryland, Mississippi, North and South Carolina, New Jersey, New York, 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. 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, conversion, 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 totaling nearly 3.9 million rentable square feet across 31,700 units. Currently the firm owns and manages 37 self storage facilities in 10 states totaling over 2.5 million rentable square feet and 19,800 units, in addition to development projects. Andover Properties, LLC manages and operates its facilities under the brand Storage King USA (storagekingusa.com).