Self-Storage Tech Firm Clutter Bulks Up Warehouse Portfolio for $152M

NEW YORK CITY – Clutter, an on-demand self-storage technology firm, has acquired The Storage Fox portfolio for $152 million. The four warehouses changing hands are spread out in Long Island City, Brooklyn, White Plains and Yonkers, totaling 500,000 square feet.

The sale is another big push by the 2015-founded firm. Several months ago the company acquired Omni Storage, which helped to shore-up its storage business overnight. Currently, the company operates in seven major markets and over 1,000 cities and towns nationwide, with an industrial footprint of over two million square feet of self-storage facilities and warehouses.

By year-end, Clutter expects the four properties to operate fully under its brand. The assets, which are in relatively new condition, are located at 3046 Northern Boulevard, Long Island City; 5601 Foster Avenue, Brooklyn; 1 Holland Avenue, White Plains; and 280 Fullerton Avenue, Yonkers.

The acquisition builds upon the firm’s momentum of entering new markets and growing its customer base, aiming to keep pace with the growing self-storage sector.

Data illustrates that the self-storage market grosses $40 billion annually in the U.S., with one in nine households utilizing the storage type. Clutter plans to keep pace with the demand while deploying technology and logistics in its facilities for customers to digitally manage their storage process, according to Ari Mir, co-founder and CEO of Clutter.

“This hybrid strategy of self-storage and on-demand storage has been our vision from the beginning. It represents an exciting milestone in our long-term strategic plan to create a platform for people to manage their belongings,” said Mir in a prepared statement.

Clutter plans to continue developing its warehouse network and creating infrastructure for urban areas while identifying acquisition opportunities in key real estate markets.