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5/29/24
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CapRock Partners has purchased Longbow Industrial Park, a new two-building, Class A industrial complex totaling 244.3k sf in Mesa, AZ. The 14.5-acre property was sold by a private investor.
Longbow Industrial Park is an efficient distribution and manufacturing facility. Both buildings feature 30-foot clear height, 2.4k sf of office space, warehouse HVAC and LED lighting, dock packages on one-third of the dock high doors, ESFR sprinklers, ample power, and a fully secured 182-foot concrete truck court.
Building 1 is 129.2k sf in size (divisible to 30k sf) and includes 36 dock-high doors and four motorized grade-level doors. Building 2 is 115.1k sf in size (divisible to 26.3k sf) and includes 34 dock-high doors and four motorized grade-level doors. The property also includes a large wrap around parking lot with 320 auto stalls.
Longbow Industrial Park is located at the northwest corner of McDowell Rad and 58th Circle, less than one mile south of Loop 202. The property offers convenient access to Loop 202 on/off ramps and regional transportation routes such as U.S. 60, Loop 101 and I-10. The property is approximately 18 miles (or 25 minutes driving) to Phoenix Sky Harbor International Airport and is within a 45-minute drive to most of the Phoenix MSA. The Boeing Company’s AH-64 Apache helicopter production facility is within a block of the property.
"The Valley’s ongoing economic expansion supports the need for new, high-quality industrial development, particularly around the technology and semiconductor industries,” said Bob O’Neill, senior vice president, acquisitions at CapRock Partners. “Already home to Boeing, Amazon, Google, Apple and others, Mesa offers a unique mix of residential and commercial uses, a diverse population and workforce, and access to regional transportation. Longbow Industrial Park is well-positioned to help the city advance into its next modern era by providing a new state-of-the-art space for growing businesses."
Stein Koss, Tom Louer, Marc Pierce and Fenton Kelly at Lee & Associates represented CapRock Partners in the purchase transaction and is leading the project’s leasing activity.
At full build-out, CapRock’s current Phoenix regional portfolio will consist of approximately 8 msf of industrial space. The firm recently announced its acquisition of Chandler Airport Business Park, a newly finished 318.7k sf, Class A industrial asset in nearby Chandler.
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