Andover Properties Acquires Two Properties in Detroit Suburbs
Andover Properties (dba Storage King USA) has recently acquired two properties in the Detroit MSA. The portfolio totals 137,900 NRSF across 842 units and are located in Waterford Township and Pontiac, MI. Both facilities are well-located in densely-populated areas, providing strong embedded self storage demand.
“We were the natural buyer for this portfolio since we own the adjacent facility in Waterford Township,” said Zachary Harding, Andover’s Chief Investment Officer. “We plan to integrate the two properties into a single facility to realize operational efficiencies. The Pontiac facility also presents an opportunity to bring our best-in-class, institutional management practices to another mom-and-pop asset and professionalize the self storage rental experience for our customers.”
The Storage King USA portfolio now totals 117 facilities in 16 states across the country.
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 8.8 million rentable square feet across 117 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.