CubeSmart Hunts Down Everyday Treasure (Boxes)

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Forget about hidden treasure; it’s the treasure box that’s worth big bucks today, and Malvern-based CubeSmart just shelled out $35 million to buy up storage units that South Floridians stash their valuables in.

The deal includes three self-storage complexes in Palm Beach County: a nearly 142,000-square-foot center in Delray East, more than 135,000 square feet in Royal Palm and just over 95,000 square feet in Boynton. It also enlarges CubeSmart’s South Florida presence to 24 properties, according to a South Florida Business Journal report.

CubeSmart bought the facilities from companies affiliated with fellow Pennsylvanian Bruce D. Manley, who came out 71 percent ahead on his investment of six years, the article noted.

Read more about the big purchase in the South Flordia Business Journal here.

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