Andover Properties, LLC (dba Storage King USA) has recently acquired A+ Storage in Columbia, TN, marking its third acquisition in the state.
A+ Storage is a 70,200 NRSF single-story facility situated on approximately 4.52 acres, offering a mix of climate, nonclimate, and parking. The property was developed in 2003 and expanded twice thereafter, most recently in 2017, when climate units were added. The facility sits adjacent to Nashville Highway, which sees an estimated 37,000 vehicles per day, and is just south of a 7.9M SF General Motors manufacturing plant which recently announced a $2B expansion. “We are focused on continuing to grow in TN and having a foothold in the Nashville MSA was an important component of that plan,” states Brian Cohen, Andover’s President.
Michael Wachsman, Andover’s Director of Acquisitions, adds, “We were attracted to the competitive position of this asset, and were impressed that the pace of lease-up from the expansion managed to remain strong despite COVID. We plan on continuing the lease up and stabilizing occupancy.”
