Andover Properties Acquires 134,000 SF...

Andover Properties Acquires Newly Constructed Small Bay Industrial Asset in San Antonio, TX

New York, NY - May 7, 2026 - Andover Properties, an investment firm specializing in alternative real estate asset classes, announced today that it has acquired a newly constructed small bay industrial property located at 11926 Rail Drive in San Antonio, Texas. The acquisition further expands Andover's industrial presence in Texas, a high-conviction market for the firm.

The property, which was acquired at construction completion, totals approximately 134,000 rentable square feet across three buildings. The multi-tenant asset features suite sizes ranging from approximately 2,000 to 14,000 square feet, designed to accommodate a wide range of industrial users. Each suite includes at least one office space and restroom, with larger suites offering additional office finish. Average unit sizes align with Andover's existing industrial holdings, making this a complementary addition to the portfolio.

Constructed with high-quality materials, the asset includes 25-foot clear heights, CMU masonry construction, and a truck court designed to accommodate heavier vehicles. Additional features include 480v 3-phase power, full site lighting, secure fencing, and HVAC throughout the office space, with heating and ventilation systems in warehouse areas.

"This acquisition marks an exciting evolution of our small bay industrial strategy," said Brian Cohen, President and CEO of Andover Properties. "Our small bay industrial vertical has performed well with a 92% average occupancy rate across our portfolio. We believe strongly in the fundamentals driving demand for small bay industrial and are excited about the opportunity to lease up a high-quality asset in a supply constrained market."

The property is located in an infill submarket of northeast San Antonio, offering immediate access to Interstate 35, a key logistics corridor connecting major Texas markets. The surrounding area is home to a diverse mix of industrial users and major employers, including HEB, Caterpillar, Home Depot, Builders FirstSource, and a nearby Amazon distribution facility. The location also benefits from a dense and growing residential population, supporting strong demand for last-mile distribution and service-oriented tenants.

Andover's business plan is to lease the asset to stabilized occupancy under our institutional ownership and capitalize on strong market fundamentals. The San Antonio industrial market has low vacancy rates and robust leasing activity, particularly for small bay product.

This acquisition further expands Andover's presence in Texas, where the firm now owns 49 assets, including nine in the San Antonio metropolitan area. The company's existing footprint and local market knowledge position it well to execute on the lease-up strategy.

Leasing

Andover Properties has retained Meredith Howard and Carlos Marquez of Cushman & Wakefield to lead leasing efforts at the property. Meredith and Carlos bring deep market expertise in the San Antonio industrial market and will be responsible for identifying and securing tenants across the asset's available suites. For more information about this property or leasing opportunities, please contact Cushman & Wakefield.

About Andover Properties
Andover Properties is an investment firm specializing in alternative real estate asset classes such as self-storage, small bay industrial, manufactured housing, RV parks, and car washes. We are one of the largest private owner-operators of self-storage facilities in the U.S. Our small bay industrial portfolio totals approximately 1 million square feet nationwide. Our storage portfolio totals over 14 million square feet across 170+ facilities in 19 states and operates under our Storage King USA brand. Founded in 2003 by Brian and William Cohen, Andover is headquartered in New York City, with offices in Miami and San Francisco. For more information, visit Andover Properties.

For media inquiries, please contact:
Andover Properties Public Relations
Email: [email protected]
Phone: (212) 813-0141

For leasing inquiries, please contact:

Meredith Howard

Email: [email protected]

Phone: (210) 739-6232