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CapRock Partners expects to deliver millions of square feet in Phoenix metro this year
CapRock Partners looks to moving a hefty chunk of its industrial project pipeline in the Valley this year, according to the Phoenix Business Journal.
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 and Mesa, Ariz., 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.
“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, senior vice president of acquisitions at CapRock.
The project nearing completion is 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