Lucid Group, Inc. Completes Purchase of Nikola Corporation Assets

Land Advisors Organization’s Pinal County Specialists advise and facilitate purchase agreement

Scottsdale, Ariz. (April 24, 2025)—Land Advisors Organization’s Pinal County Specialists Trey Davis and Kirk McCarville, CCIM facilitated introductions, tours and negotiations between Nikola Corporation’s bankruptcy advisors and Lucid Group, Inc. (Nasdaq: LCID), maker of the world’s most advanced electric vehicles, which led to Lucid’s acquisition of select facilities and assets previously belonging to Nikola Corporation in Arizona.

The transaction, which completed on April 21, 2025, includes Lucid taking over Nikola’s former Coolidge manufacturing facility located at 680 E Houser Rd, Coolidge, Arizona, as well as the Phoenix facility located at 4141 E Broadway Rd, Phoenix, Arizona which previously served as Nikola’s headquarters and product development center. The buildings are comprised of more than 884,000 square feet, adding significantly to Lucid’s Arizona footprint. The majority of this space is comprised of state-of-the-art manufacturing and warehousing buildings, which executes against Lucid’s prior planned expansion in Arizona.

“Bringing this acquisition opportunity to Lucid and working with Nikola’s team of consultants to initiate and arrange this transaction has been incredibly rewarding,” said Davis, a Pinal County Specialist with Land Advisors Organization. “It not only enables Lucid to expand its EV manufacturing footprint in Pinal County but also continues Arizona’s position as a leading hub for electric vehicle innovation and production.” 

Land Advisors Organization’s Pinal County team has an established history with Lucid. The team began working with the car maker in 2017 for its original manufacturing facility in Casa Grande, which broke ground in 2019 at the SWC of Thornton and Peter roads. The Pinal County team also represented Lucid from 2021-23 in support of the company’s expanding footprint in Casa Grande.

Over the past several years, Casa Grande has been attracting major national and international manufacturers looking to expand or relocate to Arizona’s Silicon Desert. Land Advisors Organization has facilitated bringing many companies to the area, such as Lucid, Kohler, Chang Chun Chemical and Air Products, KPPC Advanced Chemicals, NRS Logistics America, Jing He Sciences, Green Bay Packaging and Custom Truck One Source. There is tremendous interest from manufacturers, semiconductor supply chain and electric vehicle manufacturer suppliers as well as others with rail distribution needs to have facilities in the area. Casa Grande’s population has doubled since 2000, making it the largest city and tax base in Pinal County.

Lucid’s agreement to acquire the aforementioned assets follows Nikola’s bankruptcy auction which concluded on April 10, 2025, as part of its filing for Chapter 11 bankruptcy relief.

About Land Advisors Organization

Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Atlanta, Georgia; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Charlotte, North Carolina; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah, Kansas City, and Seattle, Washington.

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Media Contact: Patty Johnson, Connections Marketing & Communications
PattyJohnson@Connections-marcom.com or 602.402.2965