Jones Lang LaSalle Inc.
09/10/2025 | Press release | Distributed by Public on 09/11/2025 06:28
Sale of Westchester County self-storage facility completed
NEW YORK, Sept. 10, 2025- JLL Capital Markets announced today that it has closed the sale of DHIP Group's 598-unit self-storage facility totaling 64,130 square feet in Mt. Kisco, New York.
JLL's Self Storage Capital Markets team represented the seller, DHIP Group, and procured the buyer, an affiliate of Andover Properties.
The property is located at 140 Radio Circle just north of Manhattan in Westchester County. With more than 990,000 residents, Westchester County is consistently ranked as one of the best places to live in America and is supply constrained, with only three competing self-storage properties within a five-mile radius and one permitted for construction. The property is easily accessible via the Saw Mill River Pkwy and is right off the Main Street in Mt. Kisco.
Completed in 2024, the three-story, Class A facility offers a customer service office, a covered loading area and 24-hour surveillance. The facility is over 92% climate-controlled and is currently 57% occupied.
JLL's Self Storage Capital Markets team representing the seller was led by Managing Director Guthrie Garvin.
"Self-storage continues to draw significant investor interest given the defensive nature of the asset class," said Garvin. "140 Radio Circle is a Class A product located in a highly affluent area that resonated well with the investment community."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About DHIP Group
DHIP Group, formerly known as Drexel Hamilton Infrastructure Partners, LP, is a diversified asset manager that not only directs private equity infrastructure investments but is also active in other independent lines of business such as sponsoring publicly traded Special Purpose Acquisition Companies (SPACs), investing in commercial self-storage real estate and partnering in joint ventures with licensed general contractors on construction management projects.
About Andover Properties
Andover Properties is an investment firm specializing in alternative real estate asset classes such as self storage, manufactured housing, RV parks, small bay industrial, and car washes. We are one of the largest private owner-operators of self storage facilities in the U.S. Our portfolio totals over 14 million square feet across 160+ 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.
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