Clear Sky Capital announced that it secured $17.5 million in construction financing for a class-A, self-storage facility to be built in Scottsdale, Ariz.
JLL worked on behalf of the borrower to secure a loan through Enterprise Bank and Trust.
With an anticipated completion of third quarter, 2025, the four-story, institutional-quality facility will include 1,051 climate-controlled self-storage units and 15 luxury car-collector/recreational vehicle-storage spaces. It also will offer a state-of-the-art security system, including an exterior surveillance system.
Situated at 16136 N. Pima Road, the site offers prominent visibility from State Route 101 and approximately 112,000 vehicles per day. The project is located less than three miles from the Scottsdale Quarter and Kierland Commons, as well as more than 450,000 square feet of class-A retail. In addition, there are no self-storage projects in the development pipeline within a five-mile radius.
