Andover Properties Acquires Lake Mariam Storage
New York City basedAndover Properties closes on approx. 42,200 SF “Lake Mariam Storage” in Winter Haven, FL Andover Properties, LLC (dba Storage King USA) has recently acquired Lake Mariam Storage – a 42,200 SF Self Storage facility in Winter Haven, FL. Andover closed on the transaction on October 26, 2015. The property is situated on nearly 23 acres, is located at 2100 Dundee Road, Winter Haven, FL 33883 and features 230 self-storage rooms, in addition to parking. Andover plans on expanding the facility by approximately 25,000 square feet. Property amenities include perimeter fencing, gated access, and 24 hour video surveillance. The property will be integrated into the Storage King USA portfolio, joining the 18 already existing properties it owns and operates.New York City-based Andover owns and operates a total of 19 self-storage facilities in New Jersey, North Carolina, Florida, Pennsylvania, Maryland and Tennessee 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 primarily in the North and South East. 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, 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 self-storage assets valued over $175 million, totaling over 2.1 million rentable square feet and over 18,000 units. Currently the firm owns and manages 19 self-storage facilities in 6 states totaling nearly 1.4 million rentable square feet and 11,000 units. Andover Properties, LLC manages and operates its facilities under the brand Storage King USA Self-Storage (storagekingusa.com).