The self-storage was purchased for $4.9M
March 10, 2015
- Andover Properties/Storage King USA has bought the facility in Neptune, NJ
from Warehousing Inc. in January for $4.9 million. Andover manages self-storage facilities in Newark and Passaic, NJ
Opened in 1984, the property at 3403 Highway 33 encompasses 70,000 net rentable square feet of storage space in 546 units. Amenities include delivery acceptance, gated access and online billpay.
The company has purchased four properties in November and December. It has also acquired properties in Florida and one each in Maryland and North Carolina.
Andover Properties is based in New York City. It is owned by Brian and William Cohen. It deals mainly with acquisition, development and management of industrial, retail and self-storage facilities in the North and Southeast. It has 17 storage properties in Florida, Maryland, New Jersey, North Carolina, Pennsylvania and Tennessee under the Storage King USA brand.
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