At Basis Industrial, strategic growth means more than expanding our footprint. It means identifying opportunities that align with our long-term investment strategy while leveraging the operational infrastructure, experience and resources that support our continued evolution as a vertically integrated real estate platform.
Most recently, Basis Industrial closed a $24 million construction loan for a ground-up self-storage development located at 555 Hamburg Turnpike in Wayne, New Jersey. The project marks another milestone in the growth of our self-storage platform and reflects our continued focus on pursuing opportunities in high-barrier-to-entry markets with strong long-term fundamentals.
The development will encompass approximately 85,330 square feet and deliver 586 climate-controlled storage units upon completion. Construction is expected to begin in August 2026, with delivery anticipated in February 2028.
A Strategic Opportunity in a Supply-Constrained Market
Wayne is one of northern New Jersey's most affluent and supply-constrained markets, making it an attractive location for new self-storage development. The project advances after more than three years of entitlement work, planning efforts and municipal approvals, highlighting both the challenges and opportunities associated with developing in highly competitive markets.
As available land becomes increasingly limited throughout many suburban communities, opportunities to deliver new self-storage facilities have become more difficult to secure. At the same time, demand continues to be driven by dense population centers, strong household incomes and limited opportunities for new competing supply.
These market dynamics remain central to our investment strategy as we continue evaluating opportunities across the country.
Growth Creates New Opportunities
As Basis Industrial has expanded nationally, our growth has created new opportunities to pursue projects across multiple asset classes and markets. With more than 10 million square feet of industrial and self-storage real estate owned and managed nationwide and continued expansion planned through the end of 2026, our platform has evolved alongside our portfolio.
That growth has required continued investment in people, processes, technology and operational infrastructure. As we enter new markets and pursue increasingly complex opportunities, our vertically integrated model allows us to maintain a disciplined approach to acquisitions, development and asset management while scaling efficiently.
This evolution has positioned Basis to pursue opportunities that require long-term planning, specialized expertise and certainty of execution.
Building Through a Platform Approach
Successful real estate development extends far beyond securing a site and obtaining financing. It requires a clear roadmap, experienced teams and the infrastructure necessary to execute projects from initial planning through delivery and ongoing operations.
At Basis, our integrated approach allows us to manage each stage of the investment lifecycle while maintaining a focus on long-term value creation. Whether through acquisitions, redevelopment initiatives or ground-up development opportunities such as Wayne, our objective remains the same: identifying markets with strong fundamentals and delivering assets that meet growing demand.
The Wayne development reflects this platform-driven approach and demonstrates how Basis continues to expand its capabilities while pursuing strategic growth opportunities nationwide.
Looking Ahead
The Wayne project represents an important addition to Basis Industrial's growing development pipeline and self-storage platform. Located in one of New Jersey's most desirable and supply-constrained submarkets, the project is expected to help meet increasing demand for modern storage solutions while further strengthening our presence in high-growth markets.
As we continue expanding our national platform, we remain focused on disciplined growth, operational excellence and identifying opportunities where long-term fundamentals support lasting value.
About Basis Industrial
Basis Industrial is a vertically integrated real estate owner and operator formed by industry veterans and sponsors Jay Massirman, Stephen Garchik and Daniel Weinstein. Anthony Scavo runs the day-to-day activities of the company, serving as president and managing partner. Together they have over 100 years of combined Real Estate Development and Management experience. Basis currently owns more than 7 million square feet of self-storage and industrial real estate, with an additional 2 million to 3 million square feet expected by the end of 2026. Active markets for Basis include Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Georgia, Los Angeles, Alabama and select urban markets nationwide. In total, the sponsors have developed and managed over 15 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. Basis Industrial was ranked the No. 1 fastest-growing company by South Florida Business Journal in 2023, ranked No. 3 in 2024 and No. 4 in 2025. In 2024 and 2025, Basis was the winner of Commercial Observer’s Breakthrough Awards in the Industrial Transaction of the Year category in 2024 and Innovation in Industrial in 2025. For more information, visit www.basisindustrial.com or www.bayspace.com.