Fastest growing industrial real estate investment and development firm bolsters leadership team, pursues strategic growth initiative in Western U.S.
Newport Beach, Calif. – Sept. 19, 2019 – CapRock Partners, a California-based industrial real estate investment and development firm celebrating its 10-year anniversary in 2019, today announced the promotion of Nicholas Ilagan, a seasoned real estate industry leader, to senior vice president, asset management. With his new designation, Ilagan continues his role of overseeing asset and property management for CapRock’s owned and third-party managed assets. He takes on more leadership responsibility as the firm grows its portfolio and expands into new markets. He also will oversee the firm’s corporate marketing initiatives.
“Nicholas is a valued leader in our company and is directly responsible for all of our assets under management in California, Arizona, and Nevada. He often leads communications with CapRock’s capital partners, collaborating with our third-party brokerage teams on our leasing and sales efforts, and interacting with our tenants, all with excellence,” said Jon Pharris, co-founder and president of CapRock Partners. “Nicholas has worked hard to improve and expand CapRock’s portfolio of assets and this promotion is very well-deserved.”
Ilagan’s promotion comes as CapRock pursues a strategic growth initiative, acquiring new assets for value-add investment and ground-up development, expanding its presence into new markets and increasing its employee base.
This year, CapRock delivered three new Inland Empire business parks: Temescal Valley Commerce Center, completed in March; Serrano Business Park, completed in August, and Saddle Ranch Business Center, which will be completed this fall. The company also is under construction on Colony Commerce Center, currently the single largest industrial development project in the U.S. CapRock entitled and sold the underlying land for the 3-million-square-foot industrial development to global real estate investor Ivanhoé Cambridge, who retained CapRock to serve as on-the-grounds development specialist through the project’s completion. Phase I is scheduled to complete in Q4 2019, with Phase II now underway.
Ilagan initially worked with CapRock as a strategic consultant to create the company’s internal property management platform and officially joined the company in 2016. He was recognized as one of “Tomorrow’s Leaders” by Real Estate Forum magazine.
Before joining CapRock Partners, Ilagan was vice president and national director of management services for Sperry Van Ness International Corporation, supervising a third-party management portfolio comprised of commercial, multifamily, and student-housing property.
Ilagan earned his Bachelor of Science in Business Administration with an emphasis in finance from Chapman University, where he was named the Ralph Leatherby Center for Entrepreneurship and Ethics “Emerging Entrepreneur of the Year.” Ilagan holds his California Real Estate Salesperson license and is a member of the Institute of Real Estate (IREM) and Building Owner and Managers Association (BOMA).
ABOUT CAPROCK PARTNERS
Since its founding in 2009, Newport Beach, Calif.-based CapRock Partners has become one of the fastest-growing private industrial real estate investment and development firms in the Western U.S. The company focuses on middle-market, value-add industrial assets and developing large-scale institutional-quality, Class A industrial warehouse facilities in key locations, serving the needs of corporate America. CapRock Partners is registered with the U.S. Securities and Exchange Commission, a designation that enables the firm to grow its assets under management with ultra-high-net-worth and institutional investors. The firm is actively acquiring land for development and value-add industrial buildings in California, Nevada and Phoenix. To date, CapRock Partners has acquired, developed or has in its pipeline approximately 14 million square feet of industrial real estate totaling more than $1.7 billion. For more information, visit www.caprock-partners.com. Follow the company on Facebook, LinkedIn, Twitter and Instagram.