Basis Industrial closed on the land and a $20.5 million construction loan for a new self-storage development at 17140 W. Waddell Road in Surprise, Ariz.
The project will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. The construction financing was provided by NexBank and NexPoint.
Construction is expected to begin later this year, with completion and opening anticipated in fall 2027. Situated within the Truman Ranch master-planned community, the development will deliver a modern self-storage facility designed to serve one of the Phoenix metropolitan area’s fastest-growing communities.
Located in Surprise, the project advances after more than four years of planning and entitlement efforts. Basis Industrial has been advancing its portion of the Truman Ranch development since 2021. The company selected the location in part because of the significant residential and commercial development occurring throughout Surprise and within Truman Ranch. The master-planned community includes more than 600 new apartment units.
The post Basis Closes Surprise Land Deal, Self-Storage Venture on Way appeared first on Connect CRE.
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