Cohen Asset Management Acquires Desert Cove Industrial Center In Surprise Arizona For $36.3M

The property involved in this transaction is an industrial asset located at 11301 North Litchfield Road in Surprise, AZ. The asset, which spans 9.4 acres, was sold for $36,300,000. It comprises a total of 168,000 square feet, with a price per square foot of $216. The facility is classified as Class A and is fully leased to BP Lubricants (Castrol Oil). The property was delivered in June 2024.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $36,300,000
• Address: 11301 North Litchfield Road
• Market: Surprise, AZ
• Acres: 9.4
• Square Footage: 168,000
• Price per Square Foot: $216
• Buyer: Cohen Asset Management
• Broker Representatives: Will Strong, Molly Hunt, Michael Matchett, Jack Stamets & Madeline Warren - Cushman & Wakefield
• Mortgage Brokers: Brian Share & Garrett Stasand - Cushman & Wakefield

Cohen Asset Management acquired the Desert Cove Industrial Center from Evergreen Development. The involvement of Cushman & Wakefield as brokers highlights their representation through both commercial brokerage and mortgage brokerage services for this transaction.