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3/20/24
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CapRock Partners acquired Chandler Airport Business Park, a newly finished 318.7k sf, Class A industrial asset in Chandler, AZ. The property consists of four state-of-the-art freestanding warehouse buildings ranging in size from 56.8k sf to 103.6k sf and offers convenient access to Phoenix’s Southeast Valley region.
Chandler Airport Business Park offers modern, energy-efficient design features with ESFR sprinklers, ample power, large secured concrete truck courts, and space for 428 auto stalls, including electric vehicle charging stations. Individual building specifications include:
• 1900 East Queen Creek Road is approximately 60.4k sf in size and features 28-foot clear height, 17 dock-high doors, four grade-level doors and approximately 2.3k sf of office space.
• 1950 East Queen Creek Road is approximately 103.6k sf in size and features 30-foot clear height, 26 dock-high doors, 4 grade-level doors and approximately 2.4k sf of office space.
• 2800 South Cooper Road is approximately 56.8k sf in size and features 28-foot clear height, three dock-high doors, two grade-level doors and approximately 2.5k sf of office space.
• 2850 South Cooper Road is approximately 97.9k sf in size and features 30-foot clear height, 26 dock-high doors, four grade-level doors and approximately 2.6k sf of office space.
The 20-acre property is located at the northwest corner of Cooper Rd and Queen Creek Rd, adjacent to the south side of Chandler Municipal Airport. It is approximately two miles to Loop 202 SanTan Fwy via Gilbert Rd, and less than nine miles to Interstate 10 via Queen Creek Rd.
Chandler Airport Business Park is within the Airpark Area Business District, a nine-square-mile employment center built around the Chandler Municipal Airport—one of the busiest general aviation airports in the U.S.—and expected to house more than 25,000 total jobs by 2025. The business park is also within seven miles of Intel Corp.’s Ocotillo campus, which is expected to create more than 3,000 high-paying tech jobs.
"Tenant interest in Chandler Airport Business Park is strong and CapRock looks forward to welcoming quality credit tenants to this location," added O’Neill. “We are making final interior improvements such as installing warehouse HVAC, dock-high loading packages, and LED lighting throughout the warehouse so we can offer immediate occupancy to future tenants. As an opportunistic firm, CapRock has the unique capability to execute a number of different strategies, and Chandler Airport Business Park exemplifies how our team can employ its vision and capital to deliver best-in-class industrial assets.”
At full build-out, CapRock’s Phoenix portfolio will consist of approximately 8 msf of industrial space. The firm recently acquired 5858 W. Lower Buckeye Rd, which is approximately two miles south on Loop 202 from CapRock’s marquee Phoenix industrial development, CapRock West 202 Logistics, a state-of-the-art eight-building, Class A industrial warehouse complex totaling 3.4 msf. CapRock continues to pursue additional opportunities for new development and value-add acquisitions in the Valley.
Stein Koss, Tom Louer and Fenton Kelly at Lee & Associates represented CapRock Partners in the purchase transaction of Chandler Airport Business Park. The team is also leading the asset’s leasing activity.
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