Since the beginning, we envisioned Clutter as a platform for people to manage their belongings.
Every year, millions of Americans reach out to store their belongings during times of need. They’re often going through stressful life events like a death in the family, having a child, downsizing or getting married. Over the past five years, we’ve been able to help them if they need the convenience of Clutter’s on-demand moving and packing service.
However, there’s a meaningful customer segment that expects more. We receive calls and emails daily from people who want regular access to their belongings — because they’re operating a small business; e.g., construction, or they want the comfort of knowing their items are close by. Until today, we’ve been unable to say “Yes” to them.
Now, in the greater New York metropolitan area, Clutter customers have the option of on-demand storage and self-storage.
Today, we’re excited to announce we’ve purchased The Storage Fox’s four property self-storage portfolio for $152 million. This real estate acquisition—our first — gives us a physical footprint that spreads across Brooklyn, White Plains, Yonkers and Queens and accelerates our ability to say, “Yes,” to more people in New York during their times of need. Looking ahead, we’ll evaluate owning real estate in more key markets across the US to bring our hybrid strategy of on-demand and self-storage to everyone.
One in nine US households use self-storage. There are over fifty-two thousand self-storage facilities in the US consuming more square footage than all the Starbucks and McDonald’s combined. Today, self-storage real estate serves the singular purpose of helping consumers store the belongings that matter to them most.
Our vision is to take existing self-storage facilities across the nation and use them to create a net-positive value for society. With The Storage Fox portfolio, Clutter will leverage five years of proprietary software development, over one thousand W-2 team members, hundreds of trucks and millions of industrial square footage to expand the value proposition of self-storage altogether.
Imagine a day when America’s massive self-storage real estate footprint can be used to store, donate, dispose, sell or rent your belongings. Or even better, imagine it’s repurposed for affordable housing, parks and other more value accretive causes.