Andover Properties Acquires Self Storage Facility in Pace, Florida
Andover Properties (dba Storage King USA) has recently acquired a 39,000 SF self storage facility in Pace, FL. The property also includes 4 acres of land for expansion, on which Andover plans to more than double the size of the asset.
“We are excited to acquire our seventh asset in the Pace-Pensacola area,” said Brian Cohen, Andover’s President and CEO. “The population here is expected to grow by nearly 2% annually over the next five years and our existing footprint in the market will allow us to achieve operational efficiencies at this most recent acquisition.”
The Storage King USA portfolio now totals 131 facilities in 16 states across the country, with 34 in Florida.
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, RV, 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 portfolio totals nearly 10 million rentable square feet across 131 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 200 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.