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Phoenix & Southwest  + Phoenix  + Industrial  |  June 13, 2024
Chandler Business Park
Mike Boyd
By: Mike Boyd

CapRock Utilizes $38.5M Loan for Chandler Warehouse Buy

CapRock Partners obtained $38.5 million in financing to acquire a Class A Chandler warehouse.

The Chandler Airport Business Park totals 318,683 square feet in the city of Chandler. The project was recently delivered, and leasing activity is underway.

CapRock was represented in the financing transaction by a Cushman & Wakefield Equity, Debt & Structured Finance team of Rob Rubano, Brian Share, Max Schafer, Lars Weston, and Billy Coyle.

A $38.5 million floating-rate bridge loan for Chandler Airport Business Park was provided by funds and accounts managed by BlackRock’s US Real Estate Debt team.

Chandler Airport Business Park is a 318,683 square-foot, four-building industrial park on ±20 acres at the northwest corner of Queen Creek Road and Cooper Road. The project features 28’-30’ clear heights and 428 auto parking stalls. A $25.6 million floating-rate loan was procured allowing CapRock also to buy the Longbow Industrial Center in Mesa reported yesterday.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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