Andover Properties Acquires Dallas Self Storage Facility
NEW YORK, NY – Andover Properties is pleased to announce its acquisition of a self-storage facility in Dallas, TX. The property, right on Lyndon B Johnson Freeway, sees 213,000 vehicles per day. It contains 50,250 net rentable square feet of storage across 322 units, in addition to open parking. The property, previously operated as Move-It Storage, will be rebranded under Andover’s Storage King USA brand.
Michael Wachsman, Andover’s Director of Acquisition comments, “The property is in a great location, with high population density and excellent visibility on a major freeway. Given our strong presence in the area coupled with the capital improvements to the property we plan to make, including unit conversions, we are confident we will be able to bring the property to both stabilized occupancy and market rates.”
The Storage King USA portfolio now totals 153 facilities in 18 states across the country, with 17 facilities in Dallas.
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 12.2 million rentable square feet across 153 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.