Andover Properties Acquires Patriot Self Storage in Zephyrhills, FL
NEW YORK, NY – Andover Properties is pleased to announce its acquisition of Patriot Self Storage, located in Zephyrhills, FL. The property, which contains 40,400 net rentable square feet of drive-up self storage, will be rebranded under Andover’s Storage King USA brand.
Michael Wachsman, Andover’s Director of Acquisitions, comments: “The area has favorable demographics, and we believe our institutional approach and active management will help us capture operational upside by stabilizing both occupancy and rental rates.”
The Storage King USA portfolio now totals 146 facilities in 18 states across the country, with 40 in Florida.
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 11.6 million rentable square feet across 146 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.