Leading industrial developer completes business plan; reinforces commitment to delivering best-in-class logistics facilities that support the U.S. supply chain
LAS VEGAS – December 16, 2025 – CapRock Partners (“CapRock”), a privately-owned investor and developer of industrial real estate in the Western and Central U.S., announces the sale of CapRock Point @ Cheyenne, a modern Class A 101,332-square-foot industrial warehouse facility in North Las Vegas, to EastGroup Properties, Inc. (NYSE: EGP), a publicly traded real estate investment trust (REIT).
CapRock developed the property from the ground up, completing construction in 2022. It was fully leased at the time of sale.
“CapRock Point @ Cheyenne reflects the sustained demand for high quality, well-located, mid-sized industrial facilities in the Las Vegas market,” said Taylor Arnett, senior vice president, acquisitions at CapRock Partners. “Executing this sale underscores our positive view of the region and our ongoing focus on delivering functional, modern buildings that help users operate more efficiently and meet the rapidly evolving requirements of today’s supply chain.”
CapRock Point @ Cheyenne features 30-foot clear height, 13 dock-high doors, two grade-level doors, 107 auto stalls, ESFR sprinklers and 3,027 square feet of office space. With 2,000 amps of power and flexible configuration, the standalone building accommodates a wide range of uses from traditional warehousing to manufacturing and can be further demised to meet future market demand.
Located at 3921 E. Cheyenne Avenue, the property is two miles from Interstate 15 via the East Cheyenne Avenue corridor in the North Las Vegas industrial submarket. The corridor provides direct connectivity to the region’s primary freight routes, which support distribution throughout the West Coast and Southwest. East and West Cheyenne Avenue are home to numerous modern industrial parks developed by leading national firms, reinforcing the area’s position as an infill logistics hub.
“CapRock Point @ Cheyenne is a state-of-the-art, institutional industrial asset located in a market that continues to demonstrate long-term logistics demand,” said Jon Pharris, co-founder and president of CapRock Partners. “This disposition represents both the durability of Las Vegas as a critical distribution hub and our disciplined approach to executing across the full investment lifecycle. As we continue to expand our footprint across the U.S., we remain focused on delivering facilities that strengthen the nation’s supply chain while generating consistent value for our investors.”
Colliers’ Michael Kendall, vice chair of industrial capital markets, and Gian Bruno, senior vice president, led the transaction, with support from Las Vegas market experts Dan Doherty and Paul Sweetland, vice chairmen, and Jerry Doty, senior vice president. Terms of the disposition were not disclosed.
CapRock continues to pursue opportunities for ground-up development and investment in throughout the Western and Central U.S. that meet its criteria.
ABOUT CAPROCK PARTNERS
Founded in 2009 in Newport Beach, Calif., CapRock Partners is a privately owned investor and developer of industrial real estate in the Western and Central United States. The company specializes in acquiring middle-market value-add industrial assets, developing large-scale institutional-quality Class A industrial warehouse facilities in key locations, and providing third-party asset management services for institutional investors. The firm is actively acquiring land for development and middle market value-add assets across the Western and Central U.S. Since inception, its total investment and development pipeline exceeds 35 million square feet of industrial real estate. Follow the company on Facebook, LinkedIn, Twitter and Instagram.
ABOUT EASTGROUP
EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona and North Carolina. The Company’s goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 20,000- to 100,000-square-foot range). The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. The Company’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 64.5 million square feet.
