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New York-based self-storage operator Andover Properties has purchased RoboVault Self Storage in Fort Lauderdale, FL from BBX Capital Corp. for $12.35 million. The 82,000-square-foot-rentable facility, located at 3340 S.E. Sixth Avenue, features a robotic arm that retrieves individual units—eliminating the need to navigate elevators and hallways. Units are brought to one of seven loading bays…

SmartStop has purchased a 1,777-unit self-storage facility in Newark, NJ for $30 million according to Commercial Property Executive. The three-building FlatRate Storage facility is located at 856-882 Frelinghuysen Avenue. The deal was put together by Levin Johnson of Marcus & Millichap and includes a leaseback arrangement with the moving company operating on the site. Marcus…

Self-storage operators are in the thick of navigating new supply amidst record levels of new storage development. But in 2020 operators in certain markets should start to see new supply pressure ease off, according to CubeSmart CEO Christopher Marr. “A fairly universal thesis is that 2020 supply in the top MSAs will decline from current…

The on demand storage wars are heating up. Iron Mountain (NYSE: IRM), the Boston-based document storage and data management behemoth, is making a major investment in New York-based consumer storage provider MakeSpace. The deal will infuse MakeSpace with $30 million in new funding, and allow the on demand storage company to leverage Iron Mountain’s existing…

Culver City, CA-based on-demand storage company Clutter has closed the nascent industry’s biggest funding round yet. Investors are putting $200 million into the four-year-old company, which will enable the firm to rapidly expand into new markets across the United States. Clutter also says it will be “doubling down” on its existing operations in Los Angeles,…