Basis Industrial has closed on a land acquisition and secured a $20.5 million construction loan for a new self-storage project at 17140 W. Waddell Road in Surprise, Ariz. The development will rise within the Truman Ranch master-planned community and is planned as a modern, climate-controlled facility targeting one of the Phoenix metropolitan area’s fastest-growing suburban communities.
Upon completion, the project is expected to total approximately 102,673 square feet and will deliver 707 climate-controlled storage units. The construction financing package for the facility was provided by NexBank and NexPoint, supporting Basis Industrial’s next phase of activity at the Truman Ranch site.
Construction is scheduled to begin later this year, with completion and opening anticipated in fall 2027. The location within Truman Ranch places the storage facility alongside significant ongoing residential and commercial growth in Surprise, including more than 600 new apartment units planned within the master-planned community.
The transaction marks a key milestone for Basis Industrial after more than four years of planning and entitlement work tied to the site. The company has been advancing its portion of the Truman Ranch development since 2021 and selected the Surprise location in part due to the concentration of new housing and commercial expansion occurring both within the community and throughout the broader Surprise area.
By pairing long-run entitlement efforts with new construction financing, the project is positioned to address rising storage demand generated by population and housing growth in Surprise. The new facility is intended to serve residents and businesses within Truman Ranch and the surrounding submarket as the master-planned community continues to build out.
