May 7, 2019— BBX Capital Real Estate, a division of BBX Capital Corporation (NYSE: BBX, OTCQX: BBXTB), announced today the sale of its RoboVault Self Storage facility (“RoboVault”) to Andover Properties/Storage King USA, a New York-based storage operator.
“We are pleased to announce the sale of RoboVault,” commented Seth Wise, President of BBX Capital Real Estate. RoboVault was a legacy asset which we have held since the sale of BankAtlantic. During that time, our goal was to maximize its value through management changes, repositioning it as a self-storage facility, increasing occupancy and by making facility improvements.”
The 90,000 rentable square foot, category 5 rated concrete self-storage facility, which is conveniently situated just minutes from Fort Lauderdale-Hollywood International Airport and Downtown Ft. Lauderdale, is located at 3340 SE 6th Avenue in Fort Lauderdale. In addition to general storage for personal and business use, RoboVault offers storage for vehicles and wine collections and safe deposit boxes.