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7/28/23
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CapRock Partners has completed Phase I of CapRock West 202 Logistics, a new leading-edge speculative industrial development in the Southwest Phoenix submarket. Delivery of the 140-acre phase brings approximately 2.5 msf of Class A industrial warehouse space across five buildings to a key infill logistics location along Phoenix’s primary transportation corridors.
At total project completion, CapRock West 202 Logistics will offer 3.4 msf of Class A industrial warehouse space on 183 acres, making it the largest industrial development in Phoenix’s history and the first large-scale industrial complex to arrive along South Mountain Freeway (Loop 202).
Colson Group USA, the world's largest manufacturer and distributor of caster, wheel, and related hardware products, is the first tenant to commit to CapRock West 202 Logistics and has signed a lease for 118.8k sf. The 130-year-old company plans to take occupancy in Q4 2023 upon the completion of tenant improvements.
Phase I encompasses 140 acres of the overall project. Designed for optimum efficiency and accessibility, its buildings range in size from 289.3k sf up to 1.063 msf with clear heights ranging from 32 feet to 40 feet.
Payson MacWilliam and Don MacWilliam with Colliers International are leading the leasing efforts for CapRock West 202 Logistics. Their team assisted CapRock initially in securing the project development site in 2021. According to MacWilliam, CapRock West 202 Logistics is drawing interest from high caliber tenants such as Colson Group who are industry leaders committed to innovation, sustainability, and making a positive impact in the region.
Josh Wyss with Cushman & Wakefield represented the tenant in the lease transaction.
CapRock West 202 Logistics is located at the northeast corner of North 59th Ave and West Van Buren St. Its position southeast of the I-10 Fwy and Loop 202 interchange — effectively at the intersection of these two freeways — provides exceptional accessibility to the Phoenix metropolitan statistical area (MSA) with the ability to reach most of the Valley within a 45-minute drive and Phoenix Sky Harbor International Airport and Downtown Phoenix within minutes.
Geographically positioned east of Southern California’s port markets, Phoenix has emerged as an extension of the Inland Empire industrial market and serves as an important link to primary consumer markets and logistics hubs in Dallas, Denver, Las Vegas, and Salt Lake City. The MSA offers a strong labor pool of qualified workers and distributors can reach over 125 million people via two-day truck service, and over 230 million people (or 70% of the U.S. population), via three-day truck service.
CapRock West 202 Logistics Phase II will include approximately 827.3k sf across three buildings on 43 acres. Clear heights will range from 32 feet to 36 feet. Completion timing of this phase is not yet determined.
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