Quinlan Development Group has begun construction on a 1,084-unit storage facility at 16-09 and 16-17 Route 208 in Fair Lawn, NJ.
The privately-owned real estate investment and development firm announced it secured an $11.5 million construction loan for the $17 million project from Bank OZK.
The 123,000 s/f facility will be the fourth ground-up storage asset developed by Quinlan Development Group since 2018 and is expected to be completed by the summer of 2022.
“Although we have been able to source an extensive pipeline of new ground-up projects to add to our growing self-storage platform, we spend a great deal of energy identifying superior locations that are still at a below-market basis,” said Tim Quinlan, Principal of Quinlan Development.
“Our Fair Lawn project is on a highly trafficked road and benefits from incredible visibility, accessibility, and a densely populated submarket. We are excited to start construction.”