Industrial real estate investment and development firm enhances construction management expertise, expands industrial portfolio, with new vice presidents of development
NEWPORT BEACH, Calif. – Nov. 7, 2018 – CapRock Partners, an industrial real estate investment and development firm based in Newport Beach, today announced the addition of industrial real estate veteran Tammy J. Spencer and the promotion of seasoned development director Russell Fenton, as vice presidents of development. The appointments of the two executives to the company’s leadership team exemplifies CapRock’s rapid growth, strength of its development capabilities and robust pipeline. Spencer’s addition and Fenton’s elevation to vice president will help advance the firm’s position as a leader in Southern California industrial real estate by increasing the firm’s construction management footprint and platform to better serve investors and tenants.
Spencer is a senior-level commercial real estate development executive with 25 years of industry experience and a track record of securing, developing and managing more than $1 billion of commercial and industrial real estate. As CapRock Partners vice president of development, Spencer will assist the firm in executing its development strategy, with a primary focus of expanding its portfolio of industrial real estate investments across state lines into new western region markets. She will be involved with all aspects of development, including entitlements, land planning, architectural design decisions and construction.
A real estate professional with extensive construction management, development, and civil engineering experience, Fenton has played an integral role on the CapRock team since 2016. In his new capacity, Fenton will continue leading the firm in developing institutional-quality Class A industrial centers and will oversee the development of the 3-million-square-foot Colony Commerce Center, the firm’s largest development project to-date.
“Tammy and Russell both bring a wealth of knowledge to our firm’s development practice,” said Patrick Daniels, chief executive officer of CapRock Partners. “Tammy’s vast commercial real estate development experience and market acumen will greatly enhance our capabilities, and Russell’s exceptional project management and leadership abilities will continue to be instrumental in the oversight of some of our most complex projects. We’re glad to have two trusted partners work to elevate our position in a competitive landscape.”
Spencer was formerly vice president and industrial lead, development management at JLL where she specialized in project and development services and worked with institutional investors, top developers and tenants. In this capacity, she assisted CapRock Partners with two key projects in 2014 and 2015. She was also co-founding partner at Sustainability Counsel, Inc., and held leadership positions at Oltman Construction Company, DP Partners/Dermody Properties and Hillwood. She earned her undergraduate degree from the University of Oregon, and a master’s in business administration from UC Irvine’s Paul Merage School of Business.
“CapRock’s dynamic group of development professionals, strong business plan and vision for growth were factors that led to my decision to join the team in-house,” said Spencer. “This is an exciting time in industrial real estate and I look forward to leveraging my experience developing and managing institutional-quality industrial properties to increase value for the firm as it expands its market reach.”
Fenton held development and construction management roles at several leading Orange County organizations, including R.D. Olson Development, The Irvine Company and The Walt Disney Company. He earned his undergraduate degree in civil engineering and military science from California Polytechnic State University, San Luis Obispo, where he also was an Army Cadet. He earned a master’s in business administration from UC Irvine’s Paul Merage School of Business.
“Tammy and Russell are best-in-class industrial leaders,” added Daniels. “They bring an acute understanding of the Southern California industrial market, and their foresight into development issues will support CapRock as it marches forward with more large-scale industrial projects in markets with rising demand and exponential growth.”
CapRock Partners is actively acquiring land for development and value-add industrial buildings throughout the Orange County, Los Angeles, Las Vegas, Northern California and Phoenix markets. The firm is currently under construction on more than 4 million square feet of Class A industrial product in the Inland Empire this year, the nation’s premier industrial market.
ABOUT CAPROCK PARTNERS
Since its founding in 2009, Newport Beach, California-based CapRock Partners has become one of the fastest-growing private industrial real estate investment and development firms with a focus on middle-market, value-add industrial assets throughout the West, and Class A industrial buildings in California. The firm has acquired, developed or has in its pipeline approximately 11 million square feet of industrial real estate to-date totaling more than $1.6 billion. For more information, visit www.caprock-partners.com. Follow the company on Facebook, LinkedIn, Twitter and Instagram.