Basis Industrial Secures $24M Financing for New Self-Storage Project in Wayne, NJ

Delray Beach, FL-based Basis Industrial has closed on a $24 million construction loan to fund a ground-up self-storage development at 555 Hamburg Turnpike in Wayne, N.J. The financing closed on June 18, 2026.

According to ConnectCRE, the project will deliver approximately 85,330 square feet of space comprising 586 climate-controlled storage units.

Key Details

• Borrower/Developer: Basis Industrial, a privately held, vertically integrated real estate owner and operator headquartered in Delray Beach, FL
• Loan Amount: $24 million
• Closing Date: June 18, 2026
• Property Address: 555 Hamburg Tpke., Wayne, N.J.
• Project Scope: Ground-up self-storage construction
• Planned Size: ~85,330 square feet
• Unit Count: 586 climate-controlled storage units

Why It Matters

Construction financing for self-storage developments signals continued lender confidence in the sector, even as capital markets remain selective. Deals like this highlight how vertically integrated operators with established platforms are positioning themselves to bring new supply to suburban markets. For CRE professionals, the transaction is a useful data point on financing activity for ground-up industrial-style projects in northern New Jersey.