In December of 2021, Emerald Creek Capital provided a $7,200,000 acquisition loan in Teaneck, NJ in Bergen County. The loan is secured by a self-storage facility with 31,380 square feet of net rentable area. Converted from a warehouse into self-storage in 2019, the subject property is climate controlled and contains 341 units with the space for further expansion on the 2-acre site. Teaneck is a suburban township popular among young professionals and families due to its proximity to New York City. The area is less than 10 miles from Manhattan and served by New Jersey Transit with a direct route to Port Authority Bus Terminal. The location of the subject property is ideal for self-storage, with accessibility to many major thoroughfares connecting the Tri-State area including I-95, I-80, Route 4, the Garden State Parkway, and the Palisades Parkway.
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