Clear Sky Capital Lands $18M for Phoenix Project

Clear Sky Capital has received $17.5 million in construction financing for the development of a 98,310-square-foot self storage facility in Scottsdale, Ariz. Enterprise Bank and Trust provided the loan for the Class A project, which is scheduled for delivery in the third quarter of 2025.

Executive Managing Director Kevin Mackenzie and Senior Director Jason Carlos with JLL Capital Markets Debt Advisory worked on behalf of the borrower to secure the financing.

Upon completion, the four-story building will feature 1,051 climate-controlled units and 15 collector car/recreational vehicle storage spaces. Amenities will include a security system that will provide an exterior surveillance system as well.

Located at 16136 N. Pima Road, the property will have access to the 101 Freeway. Downtown Phoenix is some 27 miles northeast of the development site. The facility will be one of the 14 available within a 3-mile radius, offering residents 17.3 rentable square feet of self storage space per capita.

Phoenix had 22 self storage projects under construction as of March, set to add a combined 1.5 million square feet to the existing inventory, Yardi Matrix data shows. The market has recently expanded with the addition of a U-Haul self storage facility in Apache Junction, Ariz.

According to the same source, Clear Sky Capital has a self storage portfolio of nine properties, located in the Phoenix, Portland, Bay Area and San Diego markets. The company’s Phoenix portfolio includes three other facilities operating under the Collective Storage brand.