JLL arranges construction financing for Extra Space Storage development in Glen Rock

MORRISTOWN, N.J., Aug. 6, 2026 – JLL Capital Markets announced today it has arranged construction financing for the development of Extra Space Glen Rock, a three-story self-storage facility totaling 121,384 gross square feet at 161 Harristown Road in Glen Rock, New Jersey.

JLL worked on behalf of the borrower, Shadowbrook Capital, to secure the loan through Provident Bank. This marks the second construction loan JLL has arranged between Shadowbrook Capital and Provident Bank.

Shadowbrook Capital acquired the fully entitled 1.98-acre site in late 2025 and has engaged Extra Space Storage (NYSE: EXR), a top self-storage operator and REIT in the country, to manage the leasing and daily operations upon completion.

Upon its anticipated completion in 2027, the three-story, temperature-controlled facility will offer 92,175 rentable square feet and 891 units spanning the ground floor as well as elevator-access levels, ensuring customers can access their belongings year-round in comfort. Unit configurations range from compact five-by-five-foot spaces to expansive 10-by-30-foot bays, accommodating a wide spectrum of personal and commercial storage needs.

The facility will serve Glen Rock and surrounding Bergen County communities, an area characterized by strong demographic fundamentals and limited self-storage supply. The property's location provides convenient access to Route 208, a critical north-south corridor linking affluent Bergen County communities to major commercial arteries, including Route 4, Route 17 and Interstate 287. The site's proximity to these transportation networks positions the facility to capture demand from both immediate Glen Rock residents and the broader northern New Jersey market.

The JLL Capital Markets team was led by Michael Klein, Nazario Paragano and Michael Donohoe.

"The fundamentals driving this development are exceptional, a fully entitled site acquired all cash, immediate highway access serving one of New Jersey's wealthiest communities and management by one of the nation's premier self-storage operators," Paragano said. "These elements, combined with Shadowbrook's vertically integrated expertise, delivered a financing structure that reflects strong lender confidence in the project's execution and long-term performance."

"This project embodies our investment thesis: acquire premier sites in undersupplied markets with exceptional demographics," said Ben Leach, CEO and Founder of Shadowbrook Capital. "Partnering with Extra Space Storage and securing construction financing from Provident Bank positions us to deliver a facility that meets the growing storage needs of Bergen County residents and businesses."

JLL’s Capital Markets group 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. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Shadowbrook Capital is a real estate development and acquisition firm with a diverse portfolio of industrial, self storage and multi family properties throughout the East Coast of the United States. For more information, please visit: www.shadowbrook-capital.com