Andover Properties Acquires Melbourne, FL Self Storage Facility
NEW YORK, NY – Andover Properties is pleased to announce its acquisition of a self storage facility in Melbourne, FL. The property, largely a drive-up facility, contains 51,200 net rentable square feet of storage across 421 units, in addition to open parking. Previously operated as Eau Gallie Self Storage, the property will be rebranded under Andover’s Storage King USA brand.
Zach Harding, Andover’s Chief Investment Officer, said, “This property is highly complementary to our existing presence in Florida and has great potential. Our institutional management practices and our hands-on approach will ensure it receives proper staffing and overdue capital improvements, which will serve to improve the customer experience.”
The Storage King USA portfolio now totals 154 facilities in 18 states across the country, with 40 facilities in Florida.
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 154 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.