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In 2013, CapRock entered into a structured escrow on approximately nineteen (19) acres of land in Rialto, California via an off-market acquisition. During the escrow period, CapRock successfully entitled a 428,208 sq. ft. industrial building, which included a focused Environmental Impact Report (EIR) to comply with CEQA standards. During the land escrow CapRock entered into an agreement with Prologis (NYSE: PLD), the world’s largest owner, operator, and developer of industrial real estate, to sell the 428,208 in a “forward building sale” whereby CapRock sold the building upon shell completion
Prior to finalizing the Purchase and Sale Agreement with Prologis, CapRock successfully negotiated a Guaranteed Maximum Contract (GMAX) with the top general contractor in the Inland Empire. Upon the successful entitlement, CapRock commenced construction on the Class ‘A’ industrial building and executed the business plan. The building was sold to Prologis in Q3 2015.
- Off-market acquisition
- Inland Empire West location
- Near the 210 & 15 Freeway Interchange
- Corporate Neighbors include: Target (NYSE: TGT), Under Armour (NYSE: UA), Amazon (Nasdaq: AMZN), UPS (NYSE: UPS), Black & Decker (NYSE: SWK).
- Corporate Owners include: Prologis (NYSE), DCT (NYSE: DCT), Liberty Property Trust (NYSE: LPT), Metropolitan Life Insurance, TA Realty, Panattoni, Target and Hillwood, a Ross Perot Company.