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New York & Tri-State  + New Jersey  + Retail  |  June 19, 2026
Paul Bubny
By: Paul Bubny

Basis Industrial Closes on Construction Loan for Wayne, NJ Self-Storage

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 on June 18, 2026, for a ground-up self-storage development located at 555 Hamburg Tpke. in Wayne, N.J.

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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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