Andover Properties Acquires “The Storage Place” in Mesquite, TX
Andover Properties (dba Storage King USA) has recently acquired “The Storage Place” in Mesquite, TX. Located 15 minutes from downtown Dallas, the facility totals 74,000 NRSF across 553 climate and non-climate-controlled storage units. It is conveniently located and is easily accessible on Belt Line Road, a well-trafficked road which sees 22,000 vehicles per day. The asset is Andover’s 13th acquisition in the Dallas-Fort Worth area.
“The area has been experiencing strong job, housing, and population growth above national averages,” said Zach Harding, Andover’s Chief Investment Officer, “Dallas, and Texas more broadly, will continue to be areas we target for acquisitions. The market’s demand has resulted in this property already exceeding our expectations in the timeframe between signing the purchase contract and closing on the transaction.”
About Andover Properties, LLC
Andover Properties, LLC is an investment firm that owns, operates, and develops commercial property throughout the United States. The firm focuses on self storage, car wash, retail, and industrial assets. We are one of the largest private owner-operators of self storage facilities in the United States. Our current self storage portfolio totals over 8.7 million rentable square feet across 114 facilities in 16 states and operates under our Storage King USA brand (https://www.storagekingusa.com).
We are a best-in-class, vertically-integrated, owner-operator with entrepreneurial spirit and expertise in acquisitions, development, capital markets, investment structuring, property management, and asset management. Our senior leaders have over 135 years of combined real estate experience and our investors and partners include global institutional investors and high net worth individuals.
Andover was founded in 2003 by Brian and William Cohen and is headquartered in New York City with offices in Miami and San Francisco.