Basis Industrial has closed a $24 million construction loan from NexBank and NexPoint for a self-storage development at 555 Hamburg Turnpike in Wayne, New Jersey. The facility will contain 586 climate-controlled units across 85,330 net rentable square feet and will be managed by Extra Space Storage upon completion. Construction is underway with an early 2028 delivery target.
The project is part of Basis Industrial’s ongoing Northeast expansion and continues the company’s pattern of pairing new development with established third-party operators.
Source: RE Business Online
