Introducing Lyndhurst’s new essential self-storage facility on Terminal Rd.

A Multilevel Approach to Real Estate Development

Introducing Lyndhurst’s new essential self-storage facility on Terminal Rd.

Dino Tomassetti, Jr. is proud to announce that Asset Realty’s new project in Lyndhurst, NJ is in the early phases of construction. The property, located on 1 Terminal Rd, Lyndhurst, NJ, is a ground-up development of a self-storage facility. The completed building will be approximately 117,000 square feet with 922 units. It will also have a retail store, on-site parking, and a covered loading area. 


Asset Realty acquired the property through one of its development affiliates. The property started as an industrial warehouse located at the busy interchange of NJ Route 3 and Route 17, approximately 1.5 miles south of the Meadowlands Sports Complex. The property was re-zoned to permit the use of self-storage, after which approvals were obtained by both the Township of Lyndhurst, and the New Jersey Sports and Exposition Authority (NJSEA) to construct the self-storage facility.  


Asset Realty worked with a highly qualified design-build contractor and entered into an agreement with a well-known, publicly-traded REIT to provide branding and third-party management services for the facility. Financing was obtained from a local, New Jersey-based bank, and the demolition of the warehouse took place early in 2019. Asset Realty and its affiliates worked diligently through the COVID-19 restrictions to keep construction moving forward. The project is currently on track for its completion on March 2021. 


The design of the building focuses on the efficiency of materials and economical construction practices. Asset Realty’s vast experience in constructing and operating self-storage facilities will ensure a storage facility that is attractive, clean, safe, secure, well-lighted, and easily accessible to the end-user, all within a development budget that will allow for a lower cost to the consumer and adequate returns on investment for investors.  


The completed facility will be fully climate-controlled and, as mentioned earlier, will offer a covered loading area, a retail store for moving and storage related merchandise, and other services offered through the third-party manager. Equally important to Asset Realty is the minimal environmental footprint of the completed project, and it’s being a welcome addition to the community. 


Asset Realty intends for this project to be the first of a number of planned self-storage developments within the Tri-State area. Each of these facilities will be built following the same guidelines, creating a higher standard of product in locations with a high demand for self-storage facilities. Asset Realty believes in greater efficiencies in larger volumes, enabling it to provide the lower cost service needed by local communities, in turn improving the quality of the neighborhoods in which the projects are built.