CrownPoint Group Inc., a Parsippany-based commercial real estate developer, has broken ground on a 105,500-square-foot self-storage facility at 696 Old Bridge Turnpike in South River.
The three-story, climate-controlled facility will serve the storage needs of the neighborhoods surrounding this location and more than 100,000 residents within the market area. More than 1,000 apartments already surround the site, with more on the way — fueling demand for storage amid rapid residential expansion.
The project, which broke ground earlier this month, is CPG’s second self-storage development to date and is located at the intersection of Old Bridge Turnpike and U.S. Route 18 – a commercial corridor and multifamily development serving East Brunswick, South River and the surrounding communities.
New Jersey is a sought-after market for self-storage providers because of its high population density and urban housing constraints, stable occupancy and rental trends. Major operators such as CubeSmart, Extra Space Storage, and SmartStop all have facilities in New Jersey.
The U.S. self-storage market reached $33.8 billion in revenue in 2024, with a 10.9% annual growth rate over the past three years.
“This facility in South River will provide a much-needed supply of modern, institutional quality self-storage space in the area,” said CPG Vice President Michael Legacki. “We are thrilled to expand our portfolio of self-storage holdings, while also providing essential services to residents living in the heart of Middlesex County.”
CPG’s growing portfolio of self-storage facilities capitalizes on a lack of institutional-quality assets in markets with high barriers to entry. The development will also expand the company’s portfolio two years after CPG broke ground on a similar 135,000-square-foot facility in the Ironbound section of Newark.
Just across Route 18, East Brunswick’s $500 million revitalization – including its first walkable mixed-use district – is projected to attract new residents and expand demand for storage solutions. That momentum, coupled with the site’s regional access to major highways including the New Jersey Turnpike, is expected to drive value creation and enhance the community.
Since its inception in 2013, Parsippany-based CrownPoint Group’s investment and development team has sourced, entitled and developed over 2.5 million square feet of self-storage space with an aggregate value exceeding $500 million.
