Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer Desert Cove Industrial Center(“the Property” or “the Project”), an exceptional opportunity to acquire a premier industrial asset located at 11301 North Litchfield Road in Surprise, Arizona.
This newly constructed, 168,000 SF facility is fully leased to BP Lubricants USA Inc, d.b.a. Castrol Oil with a guarantee from BP Corporation North America Inc., one of the world’s largest integrated energy companies, with operations spanning oil and gas exploration, refining, trading, and renewable energy. Strategically positioned in the booming West Valley, the Project sits on Litchfield Road with convenient access to Loop 303 and Northern Parkway, offering unparalleled connectivity for businesses operating in Surprise.
With a market capitalization of $130-140 billion and investment-grade credit ratings, BP is well-positioned at the crossroads of traditional fossil fuel industries and advancing green technologies. The company produces around 2.3 million barrels of oil equivalent per day, operates 17 refineries globally, and manages a network of 18,700 service stations worldwide.
Desert Cove Industrial Center boasts state-of-the-art features tailored to meet the evolving needs of tenants. This includes optimal loading capabilities, multiple access points, functional column spacing, ample parking, and substantial power supply. In addition, the Property’s proximity to Taiwan Semiconductor Manufacturing Company (TSMC) and access to a highly skilled labor pool significantly enhance its appeal as a premier investment opportunity.
Situated just minutes from the Loop 303 in a premier e-commerce market, the Property benefits from the Southwest Valley’s significant absorption, with 7.3 MSF leased through Q3 2024. The booming Loop 303 industrial corridor is fueled by a strong labor market, world-class market access, a favorable tax environment, and lower operating costs, making Desert Cove Industrial Center a prime investment opportunity.