CapRock Partners makes 6.47-acre multitenant industrial buy, completes phase I of 3.4msf development
CapRock Partners has made an industrial acquisition in California and completed a phase of a warehouse project in Arizona.
The firm purchased Valley Center Business Park, a 6.47-acre multitenant industrial complex in the City of Industry, Calif. The asset includes approximately 92,366 square feet of industrial warehouse space across six existing buildings. Terms of the deal are not disclosed.
Built in 1977, Valley Center Business Park was approximately 85 percent leased at the time of acquisition. CapRock will begin capital improvements immediately to enhance the property’s functionality and marketability.
“Valley Center Business Park is an excellent addition to CapRock’s Southern California portfolio. The property is in an A+ industrial location within the heart of the San Gabriel Valley industrial market and ideally positioned for value-add investment,” said Taylor Arnett, first vice president of acquisitions at CapRock Partners. “As we begin work to