ANDOVER PROPERTIES ACQUIRES PREMIUM SELF-STORAGE FACILITY IN CORPUS CHRISTI, TX

Corpus Christi, TX – July 10, 2024 – Andover Properties, a leading real estate investment firm focused on alternative asset classes, is pleased to announce the acquisition of our third asset in the Corpus Christi market located at 8041 South Padre Island Drive, Corpus Christi, TX 78412, under the Storage King USA brand. This acquisition marks another strategic addition to Andover Properties’ expanding portfolio of high-quality self-storage assets.

The facility, built in 2003 and expanded in 2018, offers 83,505 net rentable square feet (NRSF), with a total of 626 storage units, in addition to open parking. With an attractive mix of climate and traditional units spanning 5.69 acres, this property is equipped with a variety of features designed to meet the diverse needs of our customers.

Additionally, Andover is implementing a comprehensive capital upgrade program to maintain the facility’s modern and pristine condition. Upgrades will include installing new roofs and gutters, replacing existing doors, and completely repainting the exterior. The program will also involve extensive concrete and asphalt repairs to ensure a safe and appealing environment for our customers.

“We are pleased to add this well-located and high-quality asset to our portfolio,” said Brian Cohen, CEO of Andover Properties. “This facility not only complements our existing operations but also strengthens our presence in the growing Corpus Christi market.”

Facility Features:

• Climate-Controlled Units: Protect sensitive items from extreme temperatures and humidity.
• Drive-Up Units: Convenient access for easy loading and unloading.
• Boat and RV Parking: Ample space for storing recreational vehicles and boats, catering to the active, outdoor lifestyles of our Corpus Christi customers.

The facility at 8041 South Padre Island Drive hosts 277 climate-controlled, ground floor units and 350 drive-up units. The facility’s modern amenities and prime location make it a highly desirable option for both personal and business storage needs. In addition, Andover is undergoing a comprehensive capital upgrade program, to ensure that the facility continues to look and feel brand new. This will include new roofs and gutters, replacing the facility’s existing doors, and giving the exterior an all-new paint job, in addition to making extensive concrete and asphalt repairs.

While Andover Properties has no expansion plans for this site, the firm’s focus will remain on maintaining the high standards of service and security that our customers have come to expect. The new acquisition underscores Andover Properties’ commitment to providing top-tier storage solutions and enhancing customer satisfaction across all assets.

For more information about the new location, or to inquire about rental availability, please visit the please visit the Storage King USA website.

About Andover Properties
Andover Properties is an investment firm specializing in alternative real estate asset classes such as self storage, manufactured housing, RV parks, small bay industrial, and car washes. We are one of the largest private owner-operators of self storage facilities in the U.S. Our portfolio totals over 13.5 million rentable square feet across 162 facilities in 18 states and operates under our Storage King USA brand. Founded in 2003 by Brian and William Cohen, Andover is headquartered in New York City, with offices in Miami and San Francisco. For more information, visit Andover Properties

Contact:

Sarah S. Berman

The Berman Group, Inc.

(212) 450-7300

sberman@bermangrp.com