What's Happening?
JLL has successfully arranged construction financing for a new 709-unit self-storage facility in Hillsborough, New Jersey. The facility, which will be operated by Extra Space Storage, is set to feature 76,119 square feet of climate-controlled space. The financing was
arranged through Provident Bank on behalf of the developer, Shadowbrook Capital. The project is located on an 8.6-acre site at 35 Bedle St. and is expected to be completed by 2027.
Why It's Important?
The development of this self-storage facility highlights the growing demand for storage solutions in suburban areas like Hillsborough. The project represents a significant investment in local infrastructure and is expected to meet the increasing needs of residents and businesses for secure and accessible storage options. The involvement of JLL and Provident Bank underscores the confidence in the project's viability and the potential for economic growth in the region.
