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CapRock Claims Another Industrial Asset in Phoenix
Newport Beach, CA-based CapRock Partners acquired a newly constructed industrial building at 4615 W. McDowell Rd. in Phoenix, reportedly for $10.2 million. The asset is a 146,500-square-foot facility that can accommodate up to four light-manufacturing and distribution tenants.
A key consideration in the acquisition was the eight-acre property’s prime visibility, with 900 linear feet of frontage along the I-10 freeway, and its optimal location, within a mile of an on/off ramp to the I-10. The location enables single-day deliveries to Southern California, Dallas, Denver and Salt Lake City.
Colliers International’s Payson MacWilliam and Don MacWilliam handled the off-market transaction on behalf of the buyer. The seller was Chamberlain Development/SunState.
This acquisition comes on the heels of CapRock’s purchase of 7200 W. Roosevelt St., a 216,880-square-foot Class A property located five miles west of the McDowell property, and brings CapRock’s Phoenix footprint to more than one million square feet of industrial space.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition