JLL Capital Markets announced today that it has arranged the $17.5 million construction financing for a to-be-built, Class A, self-storage facility located in Scottsdale, Arizona.
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JLL worked on behalf of the borrower, Clear Sky Capital, to secure a loan through Enterprise Bank and Trust.
With an anticipated completion of Q3 of 2025, the four-story, institutional-quality facility will include 1,051 climate-controlled self-storage units and 15 luxury collector car/recreational vehicle storage spaces. It will also 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 the 101 Freeway and its approximately 112,000 vehicles per day. The project is located less than three miles from the Scottsdale Quarter and Kierland Commons, as well as over 450,000 square feet of Class A retail. The facility will benefit from Scottsdale’s current population of approximately 252,000, average household income of $142,154 and more than nine million visitors annually. In addition, there are zero self-storage projects in the development pipeline within a five-mile radius.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Executive Managing Director Kevin Mackenzie and Senior Director Jason Carlos.
“Financing self-storage construction has become increasingly challenging as a real estate alternative in recent years. In today’s ever-changing landscape, success hinges on the partnership between a capable developer armed with the right tools and connections and an experienced lending partner who possesses comprehensive market knowledge and understanding,” said Carlos.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
