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Basis Industrial closed a $20.5 million construction loan and land acquisition for a 707-unit, 102,673-square-foot climate-controlled self-storage facility in Surprise, Arizona, marking its first Arizona development.
NexBank and NexPoint provided the construction financing for the Truman Ranch site, with construction starting this year and completion targeted for fall 2027.
The project taps into rising self-storage demand in fast-growing Phoenix, where Truman Ranch alone is adding more than 600 new apartment units.
Basis Industrial, a Delray Beach, Fla.-based real estate owner and operator, closed a $20.5 million construction loan and completed a land acquisition on Sept. 2, 2026, for its first Arizona self-storage development at 17140 W. Waddell Road in Surprise. The project will deliver a 102,673-square-foot, 707-unit climate-controlled facility within the Truman Ranch master-planned community. Construction is expected to start later this year, with completion targeted for fall 2027.

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