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305 Wilson Avenue - Extra Space Storage
Update
10/24/23
Devs Land $19M Loan for Newark Self-Storage Facility
Joint developers, CrownPoint Group and Lamar Companies, have just secured a $19 million loan for a 6-story, commercial project, set to rise at 305 Wilson Avenue in Newark, New Jersey's Ironbound neighborhood. Issued by Provident Bank, this capital will be used to fund all construction costs from the ground up.
Totaling 135,728 square feet, the building will be occupied by an Extra Space Storage branded, self-storage facility.
The facility will contain, 1,332 climate-controlled storage units. Plans also call for 2-loading berths and an 8-car parking lot.
The new development will replace an auto scrapyard, and approximately 2-3 structures will have to be demolished before construction can begin. The building is ultimately planned to debut at the start of 2025.
