The three-story facility is slated for delivery in the first quarter of 2027 and will total 105,487 square feet, according to JLL. The building will offer climate-controlled units averaging 90.7 square feet each, along with 15 exterior access units and 15 parking spaces, the firm said. Extra Space Storage will lease-up and manage the daily operations of the property, according to JLL.
The 1.97-acre site is located about one mile from Interstate 95 and four miles from downtown New Brunswick, JLL said. More than 100,580 residents live within three miles of the property, and the area has 3.96 square feet of storage per person, compared to the national average of 6.32 square feet per person, according to the firm.
JLL’s Capital Markets Debt Advisory team, representing the borrower, was led by Senior Managing Directors Michael Klein and Jon Mikula and Analyst Kevin Badger, the firm said. JLL worked on behalf of the developer, The CrownPoint Group, to secure the construction loan with BCB Bank, the firm said.
