Andover Properties Acquires Self Storage Facility Leominster, MA

Andover Properties has announced the acquisition of a self-storage facility located at 123 First Street in Leominster, Massachusetts, for an undisclosed amount. This transaction, which was finalized on September 10, 2026, marks a significant step in Andover's strategy to expand its footprint in the Northeast region of the United States. The newly acquired facility spans nearly 62,000 net rentable square feet (NRSF) and includes approximately 800 storage units, featuring both climate-controlled options and convenient drive-up access.

The Leominster facility, originally built in 1901, offers a diverse array of amenities that enhance its appeal to potential customers. In addition to climate-controlled storage, the facility is equipped with elevator and freight lift access, loading docks, and comprehensive video surveillance. These features align with current consumer preferences for secure and accessible storage solutions, positioning the facility to capture demand in a competitive market.

Andover Properties, a vertically integrated real estate investment firm, has established itself as a key player in the self-storage sector. With a portfolio exceeding 14 million square feet across more than 175 facilities in 20 states, the firm specializes in alternative asset classes, including self-storage, manufactured housing, RV parks, small-bay industrial, and car washes. The acquisition of the Leominster facility is consistent with Andover's investment strategy of targeting well-located properties from independent owners, which allows the firm to leverage its operational expertise to unlock value.

The self-storage market has shown resilience and growth potential, driven by increasing urbanization, population mobility, and consumer preferences for flexible storage solutions. Leominster, with its strong economic fundamentals, presents a favorable environment for self-storage investments. As Andover continues to expand its presence in the Northeast, this acquisition underscores the firm's commitment to capitalizing on market opportunities and enhancing its portfolio with high-quality assets.

Overall, the acquisition of the Leominster self-storage facility reflects broader trends in the real estate market, where alternative asset classes are gaining traction among investors. As demand for self-storage continues to rise, firms like Andover Properties are well-positioned to benefit from the evolving landscape, driving growth through strategic acquisitions and operational efficiencies.