CAPROCK PARTNERS CLOSES ON $250 MILLION IN TRANSACTIONS
CapRock Partners, a premier private industrial investment and development firm based in Newport Beach, reported significant investment activity between June and September with the acquisition and sale of eight total assets valued at $250 million. In July and August, CapRock acquired approximately 1,250,000 square feet in four industrial real estate assets valued at $128 million located in California, Nevada and Arizona for value-add or ground-up development. This brings the company’s total investment and development pipeline since its founding to 14 million total square feet valued at $1.7 billion. Complementing its acquisition efforts, CapRock also successfully completed the business plan of four key Southern California assets this summer, selling nearly 850,000 square feet for a total of $123 million.
The four recent acquisitions include:
Raymer (value-add), a 126,413-square-foot industrial campus in Fullerton, Calif.
Interchange Industrial Center (ground-up development), a 33-acre parcel in North Las Vegas, Nevada, where CapRock plans to build a 683,436-square-foot industrial complex.
Otay Mesa (value-add), a 211,269-square-foot industrial building located at 1855 Dornoch Ct. within the Otay Mesa area of San Diego.
Papago Distribution Center (value-add): a 226,436-square-foot, Class A industrial property, known as Papago Distribution Center in Phoenix, Arizona.
The dispositions include:
800 Iowa (value-add): a 310,000-square-foot institutional-quality industrial building in Riverside, Calif.
Vista (value-add): a 155,069-square-foot freestanding industrial business center at 1395 Park Center Drive in Vista, Calif.
Serrano Business Park (ground-up development): a new, three-building 332,000-square-foot industrial center built from the ground up in Jurupa Valley, Calif.
La Palma (value-add): a 43,313-square-foot value-add office facility located at 4175 E La Palma Avenue in Anaheim, Calif.