CapRock Partners Acquires 244,847-SF Class A Industrial Property in Surprise, Arizona; KBC Advisors Facilitates Deal
SURPRISE, ARIZ. — Aug. 5, 2026 — CapRock Partners has acquired Summit at Surprise, a newly completed 244,847-square-foot Class A industrial warehouse property located at 12460 and 12730 N. Dysart Road in Surprise, Ariz. The transaction was facilitated by Kirk Kuller, Callahan Conway, Bo Mills and Courtney Webb of KBC Advisors. Financial terms are undisclosed.
The acquisition adds a modern, two-building industrial campus to CapRock Partners' established Phoenix-area portfolio and reflects the firm's continued focus on the West Valley industrial submarket, where it cites strong tenant demand and limited new competitive supply.
Property Overview: Two Freestanding Buildings on 16.95 Acres
Summit at Surprise comprises two freestanding industrial buildings on two parcels totaling 16.95 acres. Building A spans 79,200 square feet and includes approximately 1,956 square feet of office space, 20 dock-high loading doors, two grade-level doors, 132 parking spaces and 2,000 amps of electrical service. Building B totals 165,647 square feet and features approximately 1,874 square feet of office space, 47 dock-high loading doors, four grade-level doors, 244 parking spaces and 3,000 amps of electrical service.
Both buildings are divisible to accommodate multiple tenants and are built to institutional-quality specifications, including 32-foot clear heights, ESFR fire sprinkler systems, secured truck courts, LED lighting, warehouse air conditioning, dock levelers and move-in-ready speculative office suites.
The property was approximately 15% leased at the time of acquisition, leaving more than 200,000 square feet available for lease. CapRock Partners is actively marketing the remaining space to industrial, manufacturing and logistics users. Leasing is led by John Lydon and Nicole Marshall of JLL.
Location and Connectivity in the West Valley
Summit at Surprise sits along N. Dysart Road in Surprise, providing direct access to Loop 303, Loop 101 and Northern Parkway. Those corridors have established the West Valley as a major distribution and logistics hub connecting the Phoenix metropolitan area to broader Southwest freight networks. The surrounding area has seen significant residential and commercial growth, which CapRock Partners says supports demand from manufacturers, distributors and logistics providers.
"Summit at Surprise is a high-quality industrial asset in a submarket where we continue to see strong tenant demand and long-term growth potential," said Bob O'Neill, executive vice president at CapRock Partners. "The property provides the opportunity to create value immediately through leasing while offering tenants modern, move-in-ready space that can support their operations. With limited new competitive supply in the area and the continued strength of the West Valley industrial market, we're excited to add Summit at Surprise to our growing Arizona portfolio."
O'Neill also noted the operational priorities driving tenant decisions in the current environment. "Occupiers continue to prioritize facilities that deliver operational efficiency, workforce accessibility and speed to occupancy," he said. "Summit at Surprise delivers those advantages through modern building design, immediate availability and a premier West Valley location. As industrial development becomes increasingly selective across the Phoenix MSA, this acquisition reflects CapRock Partners' commitment to investing in properties that support the evolving needs of industrial users while contributing to the region's long-term economic growth."
Transaction Details and KBC Advisors' Role
Summit at Surprise was purchased from institutional investors at what CapRock Partners described as an attractive basis. KBC Advisors facilitated the transaction, with Kirk Kuller, Callahan Conway, Bo Mills and Courtney Webb handling the assignment. The sale price, price per square foot and cap rate are undisclosed.
The deal is structured as a value-add acquisition, with CapRock's return thesis centered on leasing the property from its current 15% occupancy to stabilized levels rather than physical repositioning — consistent with the firm's focus on newly completed, functional assets where value creation comes through leasing and operations.
CapRock Partners' Arizona Portfolio and Broader Strategy
The acquisition expands CapRock Partners' Phoenix-area historical investment, development and management portfolio to approximately 7 million square feet of industrial space. The firm's Arizona holdings include CapRock West 202 Logistics, a 3.4-million-square-foot industrial campus spanning 183 acres along the Loop 202 South Mountain Freeway.
Founded in 2009 and headquartered in Newport Beach, Calif., CapRock Partners focuses on acquiring middle-market value-add industrial assets and developing large-scale Class A industrial warehouse facilities across the Western and Central United States. The firm's total investment and development pipeline exceeds 35 million square feet since inception. CapRock says it continues to pursue strategic acquisition and development opportunities throughout Arizona, where population growth, business expansion and manufacturing investment are cited as long-term demand drivers for industrial space.
Market Context: Phoenix Industrial Demand and Selective Supply
The Summit at Surprise acquisition comes as industrial real estate remains among the more resilient commercial property sectors nationally, supported by structural demand from nearshoring activity, logistics and manufacturing users. In the Phoenix West Valley specifically, the build-out of Loop 303, Loop 101 and Northern Parkway has reinforced the corridor's appeal to occupiers seeking efficient regional connectivity.
New industrial development across the Phoenix MSA has become more selective, a dynamic CapRock Partners explicitly referenced in its announcement. That backdrop positions newly completed, modern spec product — particularly assets with 32-foot clear heights, secured truck courts and high power capacity — as favored by both occupiers and institutional capital. Summit at Surprise's divisible floor plates and multi-tenant configuration further align the property with mid-size industrial users seeking move-in-ready space in the submarket.