New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Tri-State  + Retail  | 

CubeSmart-Branded Facility Lands $15.6M Loan

HFF has placed $15.65 million in construction financing for the development of Hillside CubeSmart, a 1,203-unit, CubeSmart-branded self-storage facility in Hillside, NJ. The HFF team worked on behalf of the developer, Quinlan Development Group, to place the construction loan with Bank OZK.

The HFF debt placement team representing the borrower consisted of Senior Director Geoff Goldstein, Managing Director Michael Klein and Senior Managing Director Jay Marshall.

Hillside CubeSmart will feature 1,162 climate-controlled and 41 non-climate-controlled drive-up units. The facility will be located at 591 N. Union Ave. immediately off the Garden State Parkway, a location which exposes the property to more than 282,000 vehicles per day.

More than 300,000 people in 108,562 households live within a three-mile radius of the site, an area that has a shortage of self-storage space, according to HFF.

Don’t miss Connect National Investment & Finance on Oct. 18 to hear what industry leaders and major stakeholders have to say about the state of the market and what’s next in this current cycle. Click here to register.


Subscribe to Connect Daily New York

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With HFF's GoldsteinConnect With Quinlan

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

  • ◦Financing
  • ◦Development
NewPoint-06-cube
New call-to-action
BancofCalifornia-01-cube
AshcroftCapital-06-cube