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4/07/20
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CapRock Partners purchased a newly constructed, 216.9k sf industrial facility in Phoenix. The Class A property is located at 7200 W. Roosevelt St, roughly a quarter mile south of I-10.
The property’s strategic location places it near dozens of household name brands and enables single-day deliveries to California, Dallas, Denver and Salt Lake City. With national firms such as FedEx, PepsiCo, PetSmart and Amazon as its neighbors, the facility has generated preliminary interest from a variety of tenants who want to lease the facility as a distribution hub.
Spanning 12 acres, 7200 W. Roosevelt St. was recently completed and was designed to accommodate up to two tenants. The building features the following such amenities as: 32' clear height; 30 dock-high doors; two grade-level doors; 48 trailer stalls; fully secured concrete truck court; 3,600 amps, 277/480V power; and 52’ x 55’ column spacing.
“With its prime location, functionality and great features, including strong curb appeal, this state-of-the-art building delivers on the needs of today’s industrial users as evidenced by the strong tenant interest we’ve received,” added Nicholas Ilagan, senior vice president, asset management.
CapRock Partners acquired the industrial building in an off-market transaction. The private industrial real estate investment and development firm was represented by Payson MacWilliam and Don MacWilliam of Colliers International.
7200 W. Roosevelt St is part of the CapRock Partners’ Industrial Value-Add Fund III, which focuses solely on the acquisition of middle market, value-add industrial properties, generally valued between $20 mil to $50 mil across California, Nevada and Arizona. It is the firm’s fifth fund overall and the third in its industrial value-add series.
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