Day: June 23, 2026

$24M Construction Loan Clears Path for New Self-Storage Project in Wayne, NJ

Basis Industrial has secured a $24 million construction loan from NexBank and NexPoint to develop a 586-unit self-storage facility at 555 Hamburg Turnpike in Wayne, New Jersey. The 85,330-square-foot project is set to break ground in August, with completion expected in February 2028. The financing follows a three-year approval process, reflecting the regulatory complexity common to high-barrier suburban markets. The transaction points to sustained capital interest in supply-constrained submarkets where new self-storage development remains difficult to advance. Read the Full Article Source: Real Estate NJ

New Self-Storage Facility Opens With Climate Control and RV Parking in Port Richey, Florida

A new self-storage facility has opened on Ridge Road in Port Richey, Florida, offering climate-controlled indoor units across three floors alongside paved outdoor parking for boats, RVs, and trailers. The facility enters a Gulf Coast market where seasonal activity, vehicle storage needs, and hurricane preparedness tend to sustain demand. The opening represents additional supply in a Florida coastal submarket and points to continued operator interest in regions where weather-driven storage patterns support consistent utilization. Read the Full Article Source: The National Law Review

Featured Broker: Kenneth H. Cox

Kenneth H. Cox serves as a Vice Chairman of Newmark and has more than 25 years of experience in the self-storage sector. He has a broad range of experience in the industry, including assignments with a publicly traded REIT as a principal and, most recently, in the brokerage arena. This experience has given Mr. Cox an in-depth and diverse perspective on the asset class; to date, Mr. Cox has led in excess of $8 billion in self-storage transactions. Contact: Kenneth Cox Vice Chairman, Newmark 901.302.4312 Kenneth.cox@nmrk.com