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Andover Properties Buys 17th Dallas Self-Storage Facility
Andover Properties has acquired Move-It Storage, a 50,250-rentable-square-foot storage facility in Dallas. The seller was National Storage Affiliates.
Andover plans to make capital improvements, including unit conversions. The 322-unit storage facility will operate under the Storage King USA brand.
The property was built in two phases, between 1978 and 1979. The facility encompasses nine buildings across 3.5 acres and offers units ranging from 45 to 560 square feet. On-site amenities include video surveillance, gated access, keypad-controlled access, drive-up units, contactless renting, as well as RV and boat parking.
The facility is located at 8500 Lyndon B. Johnson Freeway, 11 miles from downtown Dallas, and has access to Interstate 635.
Andover Properties currently owns 153 facilities across 18 states, with 17 properties located in Dallas.
Recently, Andover and Angelo Gordon and Co. landed $360 million in financing for a national self storage portfolio, totaling 3.9 million square feet.
- ◦Sale/Acquisition
