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Basis Industrial lands site deal and $20.5 million loan for new storage
The development in Surprise, Ariz. will total about 102,673 square feet and is slated to open in fall 2027.
Basis Industrial has closed on the land and a $20.5 million construction loan for a new self-storage development at 17140 W. Waddell Road in Surprise, Arizona, according to ConnectCRE.
The project is planned to cover approximately 102,673 square feet, with 707 climate-controlled storage units at completion. Construction is expected to begin later this year, with completion and opening anticipated in fall 2027.
ConnectCRE says the construction financing was provided by NexBank and NexPoint. The site is within the Truman Ranch master-planned community, which includes more than 600 new apartment units, and the development follows more than four years of planning and entitlement work.
ConnectCRE adds that Basis Industrial has been advancing its portion of the Truman Ranch development since 2021 and selected the location partly due to residential and commercial growth in Surprise and within Truman Ranch.