JLL Capital Markets arranged construction financing for Extra Space Hillsborough, a 709-unit, 105,663-square-foot self-storage development to be built at 35 Bedle St. in Hillsborough, Somerset County, NJ. A JLL team of Michael Klein, Nazario Paragano and Michael Donohoe worked on behalf of the borrower, Shadowbrook Capital, to secure the five-year construction and bridge loan through Provident Bank. Terms were not disclosed.
“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 Route 206 and robust market fundamentals generated significant interest from the lending community.”
The project benefits from the growing population in Somerset County, which is home to 350,000 residents as of year-end 2025. Completion is anticipated for 2027. Extra Space Storage will handle the lease-up and day-to-day operations.
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