JLL Capital Markets has arranged $20.3 million in bridge financing for Pier 40 CubeSmart, a 118,280-square-foot self-storage facility at 841 South Christopher Columbus Blvd. in Philadelphia. Grant Street Funding provided the three-year loan with two one-year extension options on behalf of borrower PrimeSpace Capital. The facility, converted from a 1914 port warehouse, contains 1,486 climate-controlled units managed by CubeSmart.
The financing supports ongoing lease-up following Phase 2’s February 2025 opening, with more than 75,000 square feet leased since then.
Source: JLL
