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CapRock Partners Breaks Ground on Phase 2 at Historic Industrial Warehouse and Logistics Complex in Infill Phoenix

Market-leading firm initiates final phase of Phoenix’s largest logistics development, delivering in-demand small bay industrial product, supporting city’s ongoing robust economic growth

PHOENIX – January 21, 2025 – Leading Western and Central U.S. industrial real estate investor, developer and asset manager, CapRock Partners, announces its groundbreaking of CapRock West 202 Logistics Phase 2. This next and final phase of the state-of-the-art speculative industrial development in the Southwest Phoenix submarket consists of 825,000 square feet of Class A warehouse space across three buildings on 43 acres. Phase 2 sitework began in January 2025 with project completion planned for November 2025.

“CapRock Partners is excited to start the new year with a significant milestone as we break ground on Phase 2 of CapRock West 202 Logistics,” said Bob O’Neill, Senior Vice President, Acquisitions at CapRock Partners. “Kicking off this next phase of development reflects the success of Phase 1 while highlighting CapRock’s outlook for 2025 as we continue to meet demand with best-in-class industrial properties that drive regional economic growth and strengthen the U.S. supply chain.”

At completion, CapRock West 202 Logistics Phase 2’s three buildings will be 301,771 square feet (Building F), 295,586 square feet (Building G) and 227,107 square feet (Building H) in size. Clear heights will range from 32 feet to 36 feet. Buildings F and G will each include 47 dock-high doors, and Building H will include 45 dock-high doors. All Phase 2 buildings will offer four drive-in ramp doors and will feature speculative office suites, R-38 warehouse roof and R-11 warehouse wall insulation, full building HVAC, LED lighting in the warehouse, dock-high load levelers and ample parking, among other amenities.

Payson MacWilliam and Don MacWilliam, both Vice Chairmen at Colliers, are leading the leasing efforts for CapRock West 202 Logistics.

“The next phase of development at CapRock West 202 Logistics addresses the enduring demand for modern industrial warehouse space in Central Phoenix,” said Payson MacWilliam. “With strategic access along Loop 202 and I-10, this location is critical for businesses seeking efficiency and connectivity. As Phoenix’s labor pool and economy continue to grow, attracting educated talent and high-quality companies, the need for well-located small-bay industrial spaces has become increasingly evident. Phase 2 underscores CapRock’s leadership in driving the evolution of the region’s industrial infill market.”

CapRock West 202 Logistics is located at the northeast corner of North 59th Avenue and West Van Buren Street, a key infill logistics location along two of Phoenix’s primary transportation corridors. Its position southeast of the I-10 Freeway and Loop 202 interchange provides exceptional accessibility to the Phoenix metropolitan statistical area (MSA) with the ability to reach most of the Valley within a 45-minute drive and Phoenix Sky Harbor International Airport and Downtown Phoenix within 15 minutes. Outside of Phoenix, 125 million people are accessible via two-day truck service, and over 230 million people (or 70% of the U.S. population) via three-day truck service.

At total project completion, CapRock West 202 Logistics will consist of 3.4 million square feet of Class A industrial warehouse space on 183 acres, making it the largest speculative industrial development in Phoenix’s history and the first large-scale industrial complex to arrive along South Mountain Freeway (Loop 202). CapRock completed Phase 1, which includes approximately 2.5 million square feet of Class A industrial warehouse space across five buildings on 140 acres, in July 2023.

“We are grateful for the City of Phoenix’s continued support of quality industrial and economic growth, which has been instrumental in advancing this project,” added O’Neill. “As we complete the final phase of this world-class logistics facility, we remain committed to serving tenant needs, enhancing operational efficiency, and supporting the city’s position as a leading economic center in the Southwest.”

At full build-out, CapRock’s current Phoenix regional portfolio will consist of more than seven million square feet of industrial properties. CapRock continues to pursue additional opportunities for new development within the Phoenix MSA.

As of December 31, 2024, CapRock’s current portfolio, including its development pipeline, includes approximately 21 million square feet of Class A logistics facilities across the Western U.S. and Texas that the company recently completed, is currently building, or is about to commence.

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 33 million square feet of industrial real estate. Follow the company on Facebook, LinkedIn, X and Instagram.

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CapRock Partners Breaks Ground on Phase 2 at Historic Industrial Warehouse and Logistics Complex in Infill Phoenix

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