Andover Properties LLC, which operates the Storage King USA brand, has purchased a 3-acre parcel in Homestead, Fla., on which it plans to build a 110,000-square-foot self-storage facility. The property will feature one multi-story, climate-controlled building as well as several single-story structures with drive-up units. It’s expected to be complete late next year, according to a press release.
“The site is in a great location. It is right next to a Walmart on the busy intersection of three streets, including U.S. Route 1/Dixie Highway, and will be visible from and have signage on that road, which gets 30,000 vehicles per day,” said Brian Cohen, company president.
Andover plans to develop more facilities in Florida. The company currently operates 10 locations in the state, the release stated.
Founded in 2003 and based in New York City, Andover owns and operates 28 self-storage facilities in nine states, totaling nearly 1.8 million rentable square feet of storage space in 15,000 units. The firm focuses on the acquisition, development and management of industrial, retail and self-storage facilities, primarily in the North and Southeast.