Andover Properties Acquires Self Storage Facility in McKinney, Texas
NEW YORK – Andover Properties today announced its most recent self storage acquisition in the continued growth of its Storage King USA portfolio. The property, located in McKinney, Texas, totals 73,000 square feet across a mix of 594 climate and drive up units.
“McKinney has been one of the fastest growing cities in the nation and is still projected to have strong growth over the next five years,” said Brian Cohen, Andover’s President and CEO. “The property is institutional quality, and sits on a busy road in an affluent area. It will make a great addition to our portfolio.”
Michael Wachsman, Andover’s Director of Acquisitions, adds: “given the proximity of other Storage King USA assets, expect to realize operating efficiencies at the McKinney facility. We look forward to stabilizing occupancy and implementing best practices at this property.”
The Storage King USA portfolio now totals 138 facilities in 16 states across the country, with 17 in Dallas and 43 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, 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 over 10.8 million rentable square feet across 138 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.