SURPRISE, ARIZ. — An affiliate of Cohen Asset Management has purchased Desert Cove Industrial Center, a Class A industrial property in Surprise, from Evergreen Development for $36.3 million.
Delivered in June 2024 by the seller, the freestanding single-tenant building is fully leased to BP Lubricants USA Inc., doing business as Castrol Oil. Situated on 9.4 acres at 11301 N. Litchfield Road, Desert Cove Industrial Center offers 168,000 square feet, multiple access points, functional column spacing, ample parking for trailer and auto and substantial power supply.
Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the deal. Brian Share and Garrett Stasand of Cushman & Wakefield Equity, Debt & Structured Finance team advised on the acquisition financing. John Werstler, Cooper Fratt and Tanner Ferrandi of CBRE provided market leasing advisory services.