Andover Properties Expands Texas Storage Footprint

Crossroads Self Storage. Image courtesy of Andover Properties

Andover Properties has acquired Crossroads Self Storage, an 89,000-rentable-square-foot facility in College Station, Texas, slated to be rebranded under Storage King USA. 

Spanning 8.6 acres, the 875-unit asset was built in two phases, in 2017 and 2020.  The eight-building facility offers non-climate and climate-controlled units, ranging from 50 to 200 square feet, with select ones offering drive-up access. The facility also includes 18,000 square feet of open RV and boat parking, varying from 250 to 500 square feet.

Located at 15745 Wellborn Road, Crossroads Self Storage is the only facility within a 3-mile radius, aiming to meet the market’s growing demand for storage space, President & CEO Brian Cohen said in a prepared statement. Nonetheless, within a 5-mile radius, there are 12 available facilities, offering residents 10.7 net rentable square feet of storage space per capita, above the 6.9 national figure.

Overall, College Station’s inventory encompasses slightly more than 1 million square feet of storage space across 24 properties, with currently only one project under construction: the second phase of Tower Point Self Storage at 4320 Decatur Drive. Once completed, the facility will add roughly 25,000 rentable square feet of storage space to the city’s inventory, Yardi Matrix data shows. 

Storage King USA continues to expand its national portfolio, now holding facilities in 16 states. Just last week, the firm acquired two assets, totaling 106,000 square feet in Calabash and Winnabow, N.C.