Florida developer expands to Arizona with plans for 707-unit self-storage facility in Surprise

Article originally posted on Phoenix Business Journal on September 16, 2026

A Florida-based developer is expanding its self-storage business into the Valley.

Basis Industrial is planning to build a 102,673-square-foot self-storage project with 707 climate-controlled units in Surprise, at 17140 W. Waddell Road. It’s the firm’s first ever project in the Phoenix metro.

Basis closed on a $20.5 million construction loan for the project provided by NexBank and NexPoint earlier this month and acquired the roughly 5.3-acre project site for $1,425,000 on September 2, according to real estate database Vizzda.

It plans to start construction later this year, with delivery expected in the fall of 2027.

The self-storage facility will be located within the Truman Ranch master-planned community. Basis has been working on planning and entitlement efforts over the past several years, according to a statement from the firm. The project site is next to a new 600-unit apartment complex.

It chose the area for the project as the northwest Valley continues experiencing commercial and residential growth.

“We continue to see significant development throughout Surprise, and with more than 600 new apartment units within Truman Ranch alone, we believe there is a strong need for convenient, high-quality self-storage in this community,” said Anthony Scavo, chief executive officer and managing partner of Basis Industrial.

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