Horizon Storage Buys White Plains-Area Facility
Andover Lending provided acquisition financing.
Horizon Storage Group has purchased Jefferson Valley Self Storage, a Class A, 55,311-square-foot self storage facility in Jefferson Valley, N.Y. JLL Capital Markets represented the seller, Columbia Pacific Advisors. Upon closing the deal, the property was 87 percent leased.
Andover Lending, a joint venture between Andover Properties and TPG Angelo Gordon, provided acquisition financing.
CubeSmart previously managed the asset, according to Yardi Matrix information.
Located at 621 Bank Road in the White Plains market, Jefferson Valley Self Storage is just off U.S. Route 6. The property also has access to Taconic State Parkway and U.S. Route 202. There are two self storage facilities within a 3-mile radius, providing residents with 4 net rentable square feet per capita.
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Previously a big-box retail store built in 1993, Jefferson Valley Self Storage went through a comprehensive renovation in 2022, including a new roof and building system improvements. The single-story property sits on 4 acres and comprises 405 units, ranging from 20 to 300 square feet. Amenities include climate-controlled units, gated and drive-up access, parking, video surveillance and tamper-resistant locks.
Surge in rent growth in the Northeast
The national average advertised street rate per square foot increased 0.8 percent month-over-month in May, according to the latest Yardi Matrix report, clocking in at $16.34. The figure surpasses the May increases recorded in the last two years—0.6 percent for both 2024 and 2025.
In the Northeast, self storage industry trends show New York City’s average advertised street rate in May landed at $34.74, recording a 1.0 percent month-over-month increase. Meanwhile, Boston was leading Yardi Matrix’s top 30 metros with a 2.1 percent growth to $20.16 during that same period.
