Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, FL closed on a $24-million construction loan for a ground-up self-storage development located at 555 Hamburg Tpke. in Wayne, NJ.
The project will encompass approximately 85,330 square feet and 586 climate-controlled storage units upon completion. The loan was provided by NexBank and NexPoint.
Construction is expected to begin in August 2026, with delivery anticipated in February 2028. The project will deliver a storage solution to one of northern New Jersey’s most supply-constrained markets.
“After more than three years of working through the approval process, we are pleased to reach this milestone and begin construction,” said Anthony Scavo, president and managing partner of Basis Industrial. “Wayne is a market with strong demographics and limited opportunities for new self-storage development, making it an attractive addition to our growing pipeline.”
Connect Industrial West | August 20 | Irvine, CA
On August 20, Connect Industrial West will bring together the owners, investors, developers, brokers, lenders, and occupiers driving industrial real estate across the Western U.S. Join top decision-makers for an afternoon of market insights, dealmaking opportunities, and networking with the industry’s most influential players. Register now: www.connectindustrialwest2026.com
