Cushman & Wakefield has arranged the sale of a fully entitled ±11.65-acre industrial development site in Surprise.

Echo Real Estate Capital, Inc., acquired the land located at 132nd and Peoria avenues where it plans to build Echo Park @ P132, four new single-tenant industrial buildings totaling 182,610 square feet.

Echo purchased the land for approximately $7.1 million. The general contractor for the project is Premier Design + Build.

Cushman & Wakefield’s Will Strong, Phil Haenel, Kirk Kuller, Molly Hunt and Katie Repine of the firm’s institutional and private capital groups represented the seller, Cohen Asset Management, in the sale of the land.

Cushman & Wakefield’s Mike Haenel, Andy Markham and Foster Bundy will provide market leasing advisory for the new buildings.

“Phoenix’s West Valley has captured significant interest from industrial users who want to be located near the Loop 303. It also serves as a secondary location for Southwest Phoenix / North Phoenix and Deer Valley industrial users,” said Kuller, senior director. “The offering is a terrific opportunity to develop four best-in-class shallow bay industrial buildings to meet an underserved segment of the market in this booming corridor.”