Andover Properties Acquires GT Storage in Garland, TX
Andover Properties (dba Storage King USA) has recently acquired GT Storage, its fourth property in the Garland area. The property spans 64,700 square feet across 388 units.
“We were the natural buyer for this asset since we own the adjacent facility,” Brian Cohen, Andover’s President and CEO. “We plan to integrate the two properties into a single facility to realize operational efficiencies. This 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.” Additionally, states Michael Wachsman, Andover’s Director of Acquisitions, “the combined facility will benefit from a complementary unit mix, as our existing facility is multi-story climate and this new one is an even mix between ground floor climate and traditional drive up.”
The Storage King USA portfolio now totals 118 facilities in 16 states across the country, with 35 in Texas.
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 9 million rentable square feet across 118 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.