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Debt & Equity

Entertainment pioneer sets stage for self-storage growth

StorageBlue, the self-storage brand, is continuing it New Jersey expansion efforts with the opening of a new location at 170 River Drive, Garfield, NJ.

The $6 million project was financed by New York’s Piermont Bank.

Rob Rynarzewski, head of Commercial Real Estate at Piermont Bank, commented, “Piermont was able to work with StorageBlue to creatively structure an interest-only loan that would give them time needed to lease-up the newest facility in Garfield. ”

Previously a macaroni factory, the now state of the art 60,000 s/f self-storage facility features 650 units with sizes ranging from small to x-large.

The heated location features outdoor drive-up units, 24/7 surveillance, keypad access, superior lighting, free curbside pickup, accepts deliveries, offers online and auto-pay, doesn’t require a security deposit, offers U-Haul truck rental and more.

ALAN MRUVKA

StorageBlue founder and CEO Alan Mruvka said, “We are thrilled to work with Piermont Bank to create a deal that realizes the economics of launching new facilities.

“What we have been able to do together ensures that StorageBlue can serve new communities while continuing to provide our customers with the redefined self-storage experience they’ve come to expect. We look forward to StorageBlue’s continued expansion with Piermont as a partner.”

StorageBlue was founded by E! Entertainment Founder and former CEO Alan Mruvka.

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