Andover Properties Acquires Caney Creek Self Storage
NEW YORK, NY – Andover Properties is pleased to announce its acquisition of Caney Creek Self Storage, located in New Caney, TX. New Caney is a rapidly growing area approximately 30 minutes north of downtown Houston which is expected to see annual population growth above 4% for the next several years.
The property contains 97,300 net rentable square feet of storage across a mix of 717 climate and drive up units. It sits directly on I-69, a main thoroughfare which sees in excess of 48,000 vehicle per day. The property will be rebranded under Andover’s Storage King USA brand.
“The asset’s location and the trade area’s explosive population growth are factors which we believe will contribute to outsized performance for this investment,” said Brian Cohen, Andover’s President and CEO.
The Storage King USA portfolio now totals 141 facilities in 18 states across the country, with 44 in Texas.
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 11.1 million rentable square feet across 141 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.