Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CapRock Partners Unloads Phase I, Starts Work on Phase II
CapRock Partners has sold the CapRock Tropical Logistics Phase 1, a North Las Vegas industrial site with 1.1 million square feet of warehouse space. The site has two buildings, 100% leased to three tenants, one a Fortune 100 e-commerce company. Neither the terms or the buyers name were released.
CapRock is currently under construction at the same location on a three building site, totaling 443,000 square feet on 20.7 acres. The project is expected to be complete in the fourth quarter of 2022.
CapRock’s Taylor Arnett says the deal took some effort, “CapRock began developing in 2020 following an extensive land assemblage acquisition process involving 34 parcels and 24 sellers. The assemblage aggregated one of the largest and most sought-after industrial land sites remaining in the North Las Vegas market.
The location is near the I-15 and I-215 interchange.
- ◦Sale/Acquisition
