Construction loan secured for Central New Jersey self-storage development

MORRISTOWN, N.J., Feb. 17, 2026 –  JLL Capital Markets announced today that it has arranged a construction loan for the development of South River Self Storage, a to-be-built, 854-unit self-storage facility in South River, New Jersey.

JLL worked on behalf of the developer, The CrownPoint Group, to secure the construction loan with BCB Bank.

Slated for delivery in Q1 2027, the South River Self Storage facility will total 105,487 square feet and offer climate-controlled units averaging 90.7 square feet each. The three-story building will also feature 15 exterior access units and 15 parking spaces. Extra Space Storage will lease-up and manage the daily operations of the property.

The 1.97-acre site was a former used car dealership at 696 Old Bridge Turnpike in Central New Jersey. The development will benefit from its location just one mile from Interstate 95 and four miles from downtown New Brunswick. The surrounding area is densely populated with more than 100,580 residents within three miles and is undersupplied from a storage perspective with just 3.96 square feet of storage per person, compared to the national average of 6.32 square feet per person.

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 self-storage industry continues to thrive, building on strong fundamentals in both public and private sectors,” said Mikula. “This opportunity generated a lot of interest given its location in an extremely undersupplied market and it’s prime location in Central New Jersey, just 35 minutes outside of Manhattan.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

The CrownPoint Group is a privately held, New Jersey-based real estate development firm focused on the development of self-storage, multifamily and mixed-use projects in mass transit, high-barrier-to-entry locations. The CPG Team has successfully development institutional quality projects totaling more than $3.4 billion of assets across over 12.5 million square feet since 2013.