{"id":9706,"date":"2025-08-01T08:44:33","date_gmt":"2025-08-01T08:44:33","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=9706"},"modified":"2025-08-14T08:48:17","modified_gmt":"2025-08-14T08:48:17","slug":"crownpoint-and-lamar-co-opens-new-self-storage-facility-in-newark-new-jersey","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/crownpoint-and-lamar-co-opens-new-self-storage-facility-in-newark-new-jersey\/","title":{"rendered":"CrownPoint and Lamar Co. Opens New Self-Storage Facility in Newark, New Jersey"},"content":{"rendered":"


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305 Wilson Ave. in Newark \u2014 Courtesy: CrownPoint Group\/Lamar Cos.<\/figcaption><\/figure><\/p>\n

CrownPoint Group and the Lamar Cos. have completed a new self-storage facility in Newark, delivering more than 1,200 units to the city\u2019s bustling Ironbound section.<\/span><\/span><\/span><\/p>\n

The joint venture said the property, located at 305 Wilson Ave., provides more than 135,000 square feet of climate-controlled space to the state\u2019s largest employment center and to a neighborhood that reportedly drives some 40 percent of Newark\u2019s economy. Leasing is underway at the six-story complex, which CrownPoint and Lamar billed as the Ironbound\u2019s first institutional-quality self-storage project.<\/span><\/span><\/span><\/p>\n

\u201cOur investment strategy in developing storage is focused on delivering best-in-class assets in densely populated markets with high barriers to entry,\u201d CPG Vice President Michael Legacki said. \u201cWe are proud to not only create value for our investors, lenders and key stakeholders, but to bring much-needed storage space that will greatly benefit the entire community.\u201d<\/span><\/span><\/span><\/p>\n

The developers noted that the facility sits at the corner of Avenue L and Wilson Avenue, providing direct access to Routes 1&9 and proximity to the region\u2019s densely populated neighborhoods and surrounding areas. The project revitalized a one-acre assemblage of underutilized land in the Ironbound and created hundreds of construction jobs over the course of 18 months, they said, noting that it reflects millions of dollars in investment and is the culmination of two years of ground-up construction supported by the city.<\/span><\/span><\/span><\/p>\n

JLL arranged construction financing for the project with Provident Bank.<\/span><\/span><\/span><\/p>\n

\u201cThe Lamar Companies is proud to work alongside CPG to bring much-needed self-storage space to Newark and the Ironbound,\u201d Lamar\u2019s Kyle Hayes said. \u201cWhile the Brick City is known for its connectivity as a regional and international logistics hub, there is a scarcity of institutional-quality self-storage space that our new facility will address. Our team is confident that this project will not only serve as a catalyst for development and economic activity in the area but will also generate significant value for our investors.\u201d<\/span><\/span><\/span><\/p>\n

Source<\/span><\/span><\/span><\/strong><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CrownPoint Group and the Lamar Cos. have completed a new self-storage facility in Newark, delivering more than 1,200 units to the city\u2019s bustling Ironbound section. The joint venture said the property, located at 305 Wilson Ave., provides more than 135,000 square feet of climate-controlled space to the state\u2019s largest employment center and to a neighborhood that reportedly drives some 40 percent of Newark\u2019s economy. Leasing is underway at the six-story complex, which CrownPoint and Lamar billed as the Ironbound\u2019s first institutional-quality self-storage project. \u201cOur investment strategy in developing storage is…<\/p>\n","protected":false},"author":13,"featured_media":9707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,56],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/9706"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=9706"}],"version-history":[{"count":2,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/9706\/revisions"}],"predecessor-version":[{"id":9709,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/9706\/revisions\/9709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/9707"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=9706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=9706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=9706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}