Anthony Scavo Jr. Of Basis Industrial Purchases Self Storage At 555 Paterson-Hamburg Turnpike For $24M

The asset involved in the transaction is a self-storage facility located at 555 Paterson-Hamburg Turnpike in Wayne, NJ. The sale price was $24,000,000 for an 85,330 square foot property, resulting in a price per square foot of $281.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $24,000,000
• Buyer: Anthony Scavo Jr. - Basis Industrial
• Seller: NexBank & NexPoint; Christy Mazzola & Taylor Colbert
• Square Footage: 85,330
• Price Per Square Foot: $281
• Market: Wayne, NJ

Notably, Basis Industrial secured a $24 million construction loan for the ground-up development of the self-storage facility. Financing for the project was provided by NexBank and NexPoint, with construction anticipated to commence in August 2026 and completion expected in February 2028, featuring 586 climate-controlled storage units.