HILLSBOROUGH TOWNSHIP, N.J. (Somerset County) — Construction financing has been secured for a new self-storage facility planned in Hillsborough Township, according to JLL Capital Markets.
JLL said it arranged a five-year construction and bridge loan on behalf of the borrower, Shadowbrook Capital, through Provident Bank for the project known as Extra Space Hillsborough.
The development will be built on an 8.64-acre site at 35 Bedle St., with frontage along Route 206. Officials said the project is positioned to serve a growing population in Somerset County, which had about 350,000 residents as of the end of 2025.
Upon completion, expected in 2027, the facility will include 709 units within a single-story, temperature-controlled building totaling more than 100,000 square feet, with approximately 76,000 rentable square feet. Extra Space Storage is expected to manage leasing and daily operations.
JLL’s Capital Markets team representing the borrower included Michael Klein, Nazario Paragano and Michael Donohoe.
“Shadowbrook Capital presented a compelling opportunity by identifying a clear need for high-quality self-storage in this underserved market” said Paragano. “The combination of a premier sponsor, a strategic location with direct frontage on Rte 206 and robust market fundamentals generated significant interest from the lending community. We are pleased to arrange the financing with Provident Bank for this project.”
