Andover Properties Acquires Roanoke, VA Self Storage Facility
NEW YORK, NY – Andover Properties is pleased to announce the acquisition of a 47,600 square foot self storage facility in Roanoke, VA. The property, previously operated as Blue Ridge Self Storage, will be rebranded under Andover’s Storage King USA brand and increases Andover’s store count in the Roanoke market to three.
Michael Wachsman, Director of Acquisitions at Andover, said: “The asset is complementary to our existing footprint in the area. The property has achieved 90%+ occupancy over the past year despite mom-and-pop ownership and minimal marketing spend. We look forward to applying our institutional management practices to the facility’s operations.”
The Storage King USA portfolio now totals 151 facilities in 18 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, with a focus on alternative real estate asset classes such as self storage, manufactured housing, RV parks, and car washes. We are one of the largest private owner-operators of self storage facilities in the United States. Our current portfolio totals 12+ million rentable square feet across 151 facilities in 18 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.