State-of-the-art industrial facility offers prime location and exceptional amenities in the heart of the West Valley submarket
SURPRISE, Arizona (May 8, 2023) – Mohr Capital and Rosewood Property Company have kicked off construction on West Summit Logistics Park, in Surprise, Arizona. The logistics park will consist of two Class-A industrial buildings totaling 704,472 square feet across 46 acres of land.
“Summit Business Park will sit in a prime location in one of the best markets in the country,” said Bob Mohr, chairman of Mohr Capital. “The tenant demand Mohr Capital is seeing in Phoenix right now is among the strongest in the western United States. As such, we expect this project to be fully leased prior to completion.”
West Summit Logistics Park’s larger building features a 453,960-square-foot cross-docked building with 36′ clear heights, dual 145′ truck courts, 106 dock doors, 144 tractor trailer spaces and 369 auto spaces. The second building consists of a 250,512-square-foot rear load building with 32′ clear heights, a single 135′ truck court, 58 dock doors, 81 tractor trailer spaces and 338 auto spaces. The facility is estimated for completion in Q2 2024.
“We are always looking for opportunities to expand our industrial presence, and we saw how partnering with Mohr Capital provides a great opportunity to grow in Arizona,” said Rick Perdue, president of Rosewood Property Company. “With its prime location and exceptional amenities, West Summit Logistics Park is poised to play a key role in the vibrant West Valley logistics and distribution hub.”
“The City of Surprise’s development services staff have been great to work with,” said Tom Theobald, senior vice president of development for Mohr Capital. “Our JLL leasing team is already attracting prospective tenants to the project. We are excited about this location in the West Valley.”
West Summit Logistics Park is strategically located in the established industrial submarket of Surprise, the west valley area of Phoenix, just 20 miles northwest of downtown, three miles from the Northern Parkway and five miles from Loop 101 and Loop 202, providing quick access to major highways.
“West Summit Logistics Park will meet the needs of modern industrial users with features such as high clear heights, ample loading docks and generous parking,” said Brandon Cooke, vice president of acquisitions for Rosewood Property Company. “The West Valley region continues to expand rapidly, increasing demand for industrial facilities. This business park will be a much-desired project that appeals to a variety of tenants.”
Mohr Capital is the project developer while Rosewood is the equity partner. Ware Malcomb serves as the project architect, and Nitti/DAC, a joint venture between Nitti Builders and Del Amo Construction, serve as the general contractor.
Rosewood Property Company currently owns approximately 2.7 million square feet of industrial space and is looking to grow its portfolio in the Southwest.
About Rosewood Property Company
Rosewood Property Company is the Dallas-based real estate investment vehicle for The Rosewood Corporation, which is wholly owned by the Caroline Hunt Trust Estate. Rosewood Property Company and its affiliates have an extensive portfolio, including investments in land, office, industrial, self-storage, and multifamily assets, as well as investments in the equity securities of private real estate investment companies. For more information, visit www.rosewoodproperty.com.
About Mohr Capital
Mohr Capital is a privately held real estate investment firm specializing in the acquisition, development and value exchange of office, industrial, healthcare, hospitality and retail assets throughout the U.S. The Mohr Capital team has decades of experience in commercial real estate and has completed more than $2.5 billion in transactions. Guided by a value-driven strategy and an entrepreneurial spirit, the company relies on strong, long-term relationships and possesses keen market insights needed to capitalize on undervalued and underperforming properties. With its family office structure, Mohr Capital can close quickly and has a proven track record of delivering the highest risk-adjusted returns.
To learn more about Mohr Capital, visit: https://www.mohrcap.com.