Andover Properties operates the Storage King USA self-storage brand
September 6, 2020: Andover Properties LLC has hired senior analyst Eric Brett and analyst Tianzhi “TZ” Lei to its acquisitions team. Brett’s role is to help identify and analyze potential purchase opportunities and conduct due diligence. Lei’s responsibilities include underwriting acquisitions and due diligence, according to a press release.
“We’re very excited to welcome Eric and TZ aboard. Their skill sets really round out our team and provide us with greater rigor in our deal analysis, as well as enable us to tackle a greater volume of acquisitions.” Said by Michael Wachsman, director of acquisitions.
Brett previously worked with commercial real estate firm WeWork, where he focused on sourcing and underwriting new coworking locations in more than 15 markets in Canada and the United States. His closed deals comprised 1.3 million square feet and $1 billion in lease value. Brett graduated in 2015 with honors from the Smeal College of Business at Penn State University, where he majored in finance.
Lei previously specialized in multi-family and hotel development for Eastone Equities LLC. She holds a bachelor’s degree in business administration from the University of Southern California and a master’s degree in real estate development from Columbia University.
The new members will be reporting to Chris Runckel , chief operating officer. Runckel intends to explore third-party management opportunities, develop operational plans for company properties, and help onboard acquisitions.
Andover established in 2003 and based on New-York, develops and manages industrial and retail properties as well as carwashes and self-storage facilities. The firm owns and manages storage properties in 13 states, comprising 3 million square feet across 21,600 units.