CapRock Partners completes 130,800-square-foot Grade A industrial building in Phoenix
CapRock Partners, a leading industrial real estate investor, developer and asset manager in the Western United States, today announced the acquisition of 5810 W. Buckeye Road, a 130,800-square-foot Class A industrial building on a 6.42-acre site along 202 Phoenix Loop. Motorway. Pre-leased to Metrie, Inc., North America’s largest manufacturer and supplier of solid wood and composite profiles, the new warehouse expands CapRock’s presence in Phoenix MSA and complements its overall regional logistics strategy.
The construction of the new production building was completed in the first quarter and the Metrie will be put into operation in the second quarter.
“CapRock is pleased to add another high-quality industrial warehouse to the Loop 202 corridor in the Southwest Phoenix submarket, which enjoys sustained high demand from tenants as a preferred fill location,” said Bob O’Neill, Senior Vice President, Acquisitions. at CapRock Partners. “Phoenix’s industrial market continues to attract a wide range of businesses in need of a new and efficient space to expand their operations, and CapRock remains committed to providing best-in-class asset solutions.”
5810 W. Buckeye Road is a modern warehouse complex with 2,500 square feet of office space. The building has a 32-foot clear height, 16 dock-height loading hatches, two ground-level loading hatches, ESFR sprinklers, and provides more power. Outside, there is a fully guarded 180-foot concrete yard for trucks, an outdoor warehouse, and ample parking with 29 trailer spaces and 138 car spaces.
The property is located on the northeast corner of 59th Avenue and W. Buckeye Road, adjacent to the 202 North Beltway. Located at a full diamond junction, this location offers direct access to the Loop 202 exits, as well as good visibility to approximately 580 feet of the freeway front. Less than two miles south of I-10, the hotel is approximately eight miles from downtown Phoenix, 12 miles from Phoenix Sky Harbor International Airport, and 45 minutes from most of Phoenix’s MSA.
“The acquisition of 5810 W. Buckeye Road represents an opportunity to meet the ongoing demand for quality industrial space in the infill zones in Phoenix and expand the CapRock portfolio in the region,” said John Farris, co-founder and president of CapRock Partners. “The facility is a few blocks away from the larger CapRock West 202 Logistics, whose first phase is nearing completion. CapRock Phoenix’s portfolio, when fully developed, will consist of approximately eight million square feet of industrial space. Our team is optimistic about the Phoenix market and we continue to look for additional opportunities for new development.”
Don McWilliam and Payson McWilliam of Colliers International represented CapRock Partners in the marketing of 5810 W. Buckeye Road. Metri Inc. represented by Mark Seal with Avison Young.
5810 W. Buckeye Road is one mile south of Loop 202 of CapRock’s major Phoenix industrial complex, CapRock West 202 Logistics, a state-of-the-art Class A industrial warehouse complex with eight buildings totaling 3.4 million square feet. Its Phase I, scheduled for completion in summer 2023, consists of the project’s first five buildings, totaling approximately 2.5 million square feet.
CapRock’s recent developer portfolio includes approximately 16 million square feet of Class A logistics facilities in Arizona, Nevada and California that the company has recently completed, is currently building or is about to start.
In addition to greenfield development, CapRock is actively acquiring mid-market value-added industrial assets, typically in the range of $20 million to $100 million per acquisition.
