CapRock Partners expands into Texas

CapRock Partners has opened its first office location in Dallas, marking the industrial developer’s expansion into Texas. Jon Pharris, CapRock’s co-founder and president, is leading the effort.

CapRock is actively pursuing value-add industrial real estate investment opportunities as well as land sites for large-scale logistics development in targeted locations throughout Texas.

CapRock said its move into Texas is a natural progression of the firm’s strategic growth and is the next step in its deliberate expansion into strong U.S. logistics markets with positive economic fundamentals. Since its founding, CapRock has acquired, entitled, developed or has in its pipeline nearly 30 million square feet.

In other news, the development firm recently closed its oversubscribed CapRock Logistics Venture I, which is already nearly fully allocated and will fund a $2 billion pipeline of class A industrial development in California, Arizona and Nevada.