Arthur’s Self Storage, a new facility in Branchburg, New Jersey, by Cyzner Properties, will feature RV/boat storage space and a 4,000-square-foot specialized wine storage cave designed for restaurants and caterers.
Progress Capital has arranged a $23 million construction loan for a 1,000-unit self storage project in Branchburg, about 50 miles west of New York City. The site, which is also zoned to support the future development of 160 multifamily units, will house three two-story buildings with units of varying sizes. Kathy Anderson and Caillin Boles of Progress Capital arranged the three-year, interest-only loan, which also featured an option to convert to permanent financing, through Valley Bank. The borrower was Cyzner Properties. Construction is expected to last 18 to 24 months.
