Andover Properties Acquires Two Properties in North Carolina
Andover Properties (dba Storage King USA) has recently acquired two properties in North Carolina, one in Calabash, which is in the North Myrtle Beach area, and the other in Winnabow, which is proximate to Wilmington. Together, they total 106,000 square feet across 771 units.
“We were drawn to these properties because their trade areas are experiencing population growth five times greater than the national average,” said Zach Harding, Andover’s CIO. “There are thousands of new housing units planned to accommodate this growth and we have land for expansion to meet the markets’ growing storage needs.”
Storage King USA will apply its best-in-class, institutional management practices to these assets to professionalize the self storage rental experience for its customers.
The Storage King USA portfolio now totals 123 facilities in 16 states across the country, with 13 in North Carolina.
About Andover Properties, LLC
Andover Properties, LLC is an investment firm that owns, operates, and develops commercial property throughout the United States. The firm focuses on self storage, RV, car wash, retail, and industrial assets. We are one of the largest private owner-operators of self storage facilities in the United States. Our current portfolio totals over 9.3 million rentable square feet across 123 facilities in 16 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.