BBX Capital Real Estate Announces the Sale of RoboVault Self Storage to Andover Properties/Storage King USA
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--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 6 th 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.
About BBX Capital Real Estate: BBX Capital Real Estate, a division of BBX Capital Corporation, is involved in the development, operation, management, and investment in residential and commercial real estate including investments, directly and indirectly through joint ventures, in master planned communities, multifamily rental communities, single family for sale communities and commercial properties located primarily in Florida. For further information, please visit: https://www.bbxcapital.com/bbx-capital-real-estate/overview/.
About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) is a Florida-based diversified holding company whose principal investments include Bluegreen Vacations Corporation (NYSE: BXG), BBX Capital Real Estate, Renin Holdings, and IT’SUGAR. For additional information, please visit www.BBXCapital.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190507005231/en/
CONTACT: BBX Capital Corporation Contact Info:
Investor Relations:Leo Hinkley, Managing Director, Investor Relations Officer
BBX Capital Real Estate Media Contact:
Kip Hunter Marketing, 954-765-1329,Nicole Lewis /Aimee Adler
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: TRAVEL LODGING REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: BBX Capital Corporation
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PUB: 05/07/2019 06:55 AM/DISC: 05/07/2019 06:55 AM