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Sale of Litchfield Park industrial building reflects growth in Southwest Valley
Submitted photo/ Joshua Deal
$128.2M sale of Litchfield Park industrial building reflects growth in Southwest Valley.
Posted
A newly built industrial facility in Litchfield Park has sold for $128.2 million, part of ongoing industrial growth in the Southwest Valley.
The Sarival Logistics Center, located at 6390 North Sarival Avenue, spans 1,156,860 square feet and is fully leased to Logistics Plus, Inc., a global provider of transportation and supply chain services.
The buyer, EQT Real Estate, is a global investment manager. The seller, a real estate investment firm focused on industrial development, completed construction on the building in 2022 after acquiring the site in 2020.
Cushman & Wakefield arranged the sale and represented the seller. The site is part of a 75-acre property previously brokered by the firm.
“Sarival Logistics Center is a top-tier industrial asset in one of the most active logistics corridors in the Southwest, right along Loop 303,” stated Andy Markham, executive vice chair at Cushman & Wakefield. “It pairs high-end design with excellent freeway access, making it a great fit for regional and national distribution. EQT Real Estate is picking up a strong, stabilized facility that’s set up for long-term success.”
Located near the intersection of Loop 303 and West Bethany Home Road, the building is south of Luke Air Force Base and about 25 miles west of downtown Phoenix. It has direct access to Loop 303 and is close to Interstate 10 and regional freight routes.
“This transaction is a clear example of the seamless collaboration and deep expertise between Cushman & Wakefield’s Capital Markets and Leasing teams,” stated Molly Hunt, director at Cushman & Wakefield. “Our integrated approach consistently drives successful outcomes for clients at every stage of the property lifecycle—from acquisition and development to lease-up and final disposition.”
The Cushman & Wakefield team representing the seller included Will Strong, Molly Hunt, Michael Matchett, Jack Stamets, and Madeline Warren. Mike Haenel, Andy Markham, and Justin Smith provided leasing advisory services.
The Southwest Valley continues to see increased demand for industrial space. According to Cushman & Wakefield’s first-quarter 2025 report, the submarket recorded 1.9 million square feet of leasing activity and more than 930,000 square feet of positive net absorption, leading all Phoenix-area submarkets in both categories. In 2024, the region accounted for over 12.8 million square feet of industrial occupancy growth, or 58% of the metro area's total.
The sale marks another large transaction in Litchfield Park, which is increasingly included in regional industrial developments despite its small-city boundaries.
