Shadowbrook Capital is planning a 2027 completion for a new 881-unit self-storage facility at 161 Harristown Road in Glen Rock. — Rendering courtesy: JLL
By Joshua Burd
A developer has scored construction financing for a project that will bring a new three-story, 881-unit self-storage facility to Glen Rock, brokers with JLL announced last week.
In a news release, the debt placement team said Provident Bank originated the loan in connection with the planned 121,384-square-foot complex at 161 Harristown Road. The deal follows Shadowbrook Capital’s acquisition of the fully entitled, 1.98-acre site late last year, with estimated completion slated for 2027.
JLL’s Michael Klein, Nazario Paragano and Michael Donohoe sourced the financing on the borrower’s behalf, noting that it marks the second construction loan it has arranged between Shadowbrook and Provident. Extra Space Storage will manage the leasing and daily operations upon completion.
“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.”
Upon completion in 2027, the 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, the news release said. 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, JLL added, touting its location near Route 208 and access to many affluent Bergen County communities. Its proximity to major arteries like routes 4 and 17 and Interstate 287 also positions it to capture demand from both Glen Rock residents and the broader northern New Jersey market.
“This project embodies our investment thesis: acquire premier sites in undersupplied markets with exceptional demographics,” said Ben Leach, founder and CEO 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.”
