Progress Capital on Monday said it secured a $23 million construction loan for a state-of-the-art self-storage facility to be built at 3421 Route 22, Branchburg.
The lender, Valley Bank, provided a three-year, interest-only construction loan with a permanent conversion option to owner Irv Cyzner of Cyzner Properties.
The property will feature 1,000 storage units of varying sizes within three, two-story buildings. The new facility includes a covered boat/RV storage area, a vault holding 2,000 safety deposit boxes for storing valuables and 4,000 square feet of specialized wine storage cave designed for restaurants and caterers.
The property has additional acreage for the future development of 160 apartment units.
