Andover Properties Acquires Manor, TX Self Storage Facility
NEW YORK, NY – Andover Properties is pleased to announce its acquisition of a self storage facility in Manor, TX, which is located just outside of Austin. The property contains 79,000 net rentable square feet of storage across 543 climate controlled and drive-up units. The property, previously operated as a AAA Storage, will be rebranded under Andover’s Storage King USA brand.
Zach Harding, Andover’s Chief Investment Officer, said: “Manor, a suburb of Austin, is expected to experience 4% annual population growth in the coming years – significantly higher than the broader U.S. There is housing being built everywhere; this growth should drive significant demand for our asset, which was recently expanded and leasing up quickly.”
The Storage King USA portfolio now totals 152 facilities in 18 states across the country.
About Andover Properties
Andover Properties 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 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.