Shadowbrook Capital has closed on construction financing from Provident Bank, arranged by JLL, for a three-story, 881-unit self-storage facility at 161 Harristown Road in Glen Rock, New Jersey. The 121,384-square-foot climate-controlled project is slated for completion in 2027 and will be operated by Extra Space Storage.
The transaction is the second construction loan JLL has arranged between the same borrower and lender. The deal points to sustained lender and developer interest in Bergen County, a market characterized by limited self-storage supply and above-average household incomes.
Source: RealEstateNJ
