Andover Properties Acquires White Marsh, MD Self Storage Facility
NEW YORK, NY – Andover Properties today announced its acquisition of a self storage facility in White Marsh, MD, which is located north of Baltimore along Interstate 95. The property contains 79,600 square feet of storage across its 500 drive-up units, in addition to a significant amount of open parking. It will be rebranded under Andover’s Storage King USA brand.
Brian Cohen, Andover’s President, and CEO, said, “We are pleased to have acquired an under-managed facility in an area with robust population, high household incomes, and economic development. Our institutional best practices will enable us to significantly improve the asset’s operations and revenue potential. We are also working on plans to construct a multistory, climate controlled expansion which will modernize the asset and further enhance its market presence.”
The Storage King USA portfolio now totals 152 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 over 12.1 million rentable square feet across 152 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.