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8/19/21
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Baker Development Corporation (BDC) acquired 81 acres of land in Surprise, AZ for the development of a $150 mil industrial park to be called Cactus 303. BDC purchased the land, located on the northeast corner of Cactus Rd and Loop 303, for $20 mil.
The company plans to build approximately 1 msf of new space in seven Class A industrial buildings, with a complementary retail component along the Cactus Rd frontage. The retail pads will range from .75 acres to 16 acres, and will be made available for sale or ground lease.
Buildings at Cactus 303 will range from 82k sf to 378.6k sf. All seven buildings can accommodate a single building user or are divisible to provide flexible size offerings for multi-tenant requirements. The site is also available, and can accommodate, potential build-to-suit users of up to 600k sf looking for branding opportunities and immediate access along the Loop 303.
Amenities include 32’ to 40’ clear height, dock-high and grade-level doors, up to 200’ truck courts and extensive – and expandable – auto and trailer parking.
The project fronts Loop 303 with immediate access via Cactus Rd and multiple points of ingress and egress. It is located within a robust labor pool and a community of corporate neighbors including Red Bull, White Claw, Ball Enclosure, Crescent Crown and Expeditors.
Cactus 303 also sits within the 3,300-acre Prasada master plan, featuring single-family homes, a 180-acre auto mall and a 60-acre power center.
Construction on Cactus 303 is scheduled to begin in early 2022, with Phase I being completed by year-end 2022. The project architect is Butler Design. Layton Construction will serve as the general contractor.
JLL’s Anthony Lydon, Marc Hertzberg and Riley Gilbert represented BDC in the land acquisition. The JLL team will also serve as Cactus 303’s exclusive industrial leasing brokers. Ed Beeh, Chuck Gibson and Robbie Petty with SRS have the retail leasing assignment for the project.
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