California-Based Industrial Developer Expects to Deliver Millions of Square Feet in Phoenix Metro This Year

Article originally posted on Phoenix Business Journal on April 14, 2023

CapRock Partners looks to move a hefty chunk of its industrial project pipeline in the Valley forward this year.

By the end of 2023, the California-based industrial real estate development and investment firm expects to deliver more than 3 million square feet across projects in Chandler, Mesa and in Phoenix. CapRock plans to start on at least another 2 million square feet of projects during the first half of 2024 with an eye on even more in the works.

“We’re still bullish on the Phoenix market and looking for additional land sites for development as well as existing buildings for value-add investment,” said Bob O’Neill CapRock’s senior vice president of acquisitions.

The projects nearing completion are:

West202 Logistics Phase 1 — a 2.5 million-square-foot park across five buildings near 59th Avenue and Van Buren Street in Phoenix. O’Neill expects construction to complete by July. When fully built out, West202 Logistics will comprise eight buildings and 3.4 million square feet.

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A conceptual rendering of a building at East202 Logistics park by CapRock partners. The park will total 1.4 million square feet across six industrial buildings.