Andover Properties, LLC (dba Storage King USA) has recently acquired Texas Storage of Rosenberg, located in the Houston area, marking its ninth acquisition in the state of Texas this year.
The property, a 45,000 NRSF traditional drive up facility, sits on highly-trafficked US-90, which sees about 24,000 vehicles per day traverse the roadway. “We think the major cities of Texas are fundamentally strong markets to be in and aim to continue to expand our presence in the state,” affirms Brian Cohen, Andover’s President. “Robust population, job and housing growth are underpinning the market’s strength, which should continue for some time.”
Michael Wachsman, Andover’s Director of Acquisitions, commenting on the specifics of this deal, explains, “The facility has enjoyed historically strong occupancy, despite not having the same marketing presence as the other major companies in the area. Renovations to the property and our active management should make the facility more competitive.”
The site will be integrated into the Storage King USA portfolio. New York City-based Andover Properties owns and operates self-storage facilities in Florida, Georgia, Maryland, Mississippi, North and South Carolina, New Jersey, New York, Tennessee, Virginia, Arizona, Ohio, Texas, California, and Colorado under its trade name Storage King USA (storagekingusa.com).
About Andover Properties, LLC
Andover Properties, LLC, is an investor, owner, operator and developer of real estate throughout the United States, based in Manhattan, New York. The firm focuses on the acquisition, development and management of industrial, retail and self storage facilities. Andover is a leading sponsor in this area with expertise in all aspects related to these product types including acquisitions, asset management, leasing, property management, conversion, development and dispositions. Its investors and partners include global institutional real estate private equity funds and high net worth individuals.
Since inception in 2003, Andover Properties, LLC has owned or managed self storage assets totaling over 6.6 million rentable square feet across 51,000 units. Currently the firm owns and manages 70 self storage facilities in 16 states totaling 5.3 million rentable square feet and 39,000 units, in addition to development projects. Andover Properties, LLC manages and operates its facilities under the brand Storage King USA (https://www.storagekingusa.com).