Provident Bank Funds Shadowbrook Capital's 121,384-SF Extra Space Storage Development in Glen Rock, NJ via JLL
JLL Capital Markets has arranged construction financing from Provident Bank for Shadowbrook Capital's development of Extra Space Glen Rock, a three-story self-storage facility totaling 121,384 gross square feet at 161 Harristown Road in Glen Rock, New Jersey, the firm announced Aug. 6, 2026.
The transaction marks the second construction loan JLL has arranged between Shadowbrook Capital and Provident Bank. The loan amount was not disclosed.
Project Details and Timeline
Shadowbrook Capital acquired the fully entitled 1.98-acre site in late 2025 in an all-cash transaction. The facility is expected to reach completion in 2027. Upon delivery, the temperature-controlled building will offer 92,175 rentable square feet across 891 units spanning the ground floor and elevator-access levels above.
Unit configurations will range from five-by-five-foot spaces to 10-by-30-foot bays, accommodating both personal and commercial storage customers. Extra Space Storage (NYSE: EXR) has been engaged to manage leasing and daily operations upon completion.
Location and Market Fundamentals
The Glen Rock site sits in Bergen County, New Jersey, a market JLL characterized as having strong demographic fundamentals and limited self-storage supply. The property provides direct access to Route 208, a north-south corridor connecting Bergen County communities to Route 4, Route 17 and Interstate 287, positioning the facility to draw customers from across northern New Jersey.
Self-storage development in constrained suburban markets has continued to attract lender interest, particularly in infill locations where new supply is difficult to add and demand is supported by dense, higher-income households. Bergen County's demographics and the site's highway access were cited as key factors in the financing structure.
Transaction Team and Quotes
The JLL Capital Markets team was led by Michael Klein, Nazario Paragano and Michael Donohoe.
"The fundamentals driving this development are exceptional — a fully entitled site acquired all cash, immediate highway access serving one of New Jersey's wealthiest communities and management by one of the nation's premier self-storage operators," Paragano said. "These elements, combined with Shadowbrook's vertically integrated expertise, delivered a financing structure that reflects strong lender confidence in the project's execution and long-term performance."
Ben Leach, CEO and Founder of Shadowbrook Capital, said the project reflects the firm's core investment approach. "This project embodies our investment thesis: acquire premier sites in undersupplied markets with exceptional demographics," Leach said. "Partnering with Extra Space Storage and securing construction financing from Provident Bank positions us to deliver a facility that meets the growing storage needs of Bergen County residents and businesses."
Firm Backgrounds
Shadowbrook Capital is a real estate development and acquisition firm with a portfolio spanning industrial, self-storage and multifamily properties along the East Coast. JLL's Capital Markets group operates globally with more than 3,000 specialists in nearly 50 countries, offering debt advisory, investment sales, equity placement and related services. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in more than 80 countries as of mid-2026.
Sources: JLL Newsroom, Aug. 6, 2026