CapRock Partners has closed on a 10-parcel land acquisition assemblage totaling 20.7 acres for the development of three state-of-the-art industrial buildings totaling 441,554-square-feet in North Las Vegas.
CapRock acquired the land for the to-be-built class A project in unimproved condition from nine individual sellers. Development is under way, and groundbreaking is planned for first quarter 2022. Project completion is anticipated in fourth quarter 2022.
The new project, named CapRock Tropical Logistics Phase II, is the second phase of the adjacent CapRock Tropical Logistics, a two-building, 1.1 million-square-foot logistics complex currently finishing construction. Collectively, the two phases total 105 acres, or 34 legal parcels, acquired via assemblage from 22 unrelated sellers. Phase I is currently 100 percent pre-leased and scheduled for completion in third quarter 2021.
“As CapRock’s third ground-up industrial project in North Las Vegas, our team is
