IRVINE, CA—CapRock Partners has closed the sale of an industrial building to Prologis, the world's leading owner, operator and developer of industrial real estate. Construction on the 428,164-square-foot, state-of-the-art building at 1508 West Casmalia Street in Rialto, CA, was completed at the end of summer. The building is part of a larger CapRock project that encompasses 45 acres and two large-scale industrial buildings totaling more than 1,000,000 square feet. Paul Earnhart, Brian Pharris, Jeff Smith, and Ryan Lal at Lee & Associates represented both CapRock and Prologis in the transaction.
“Prologis is the premier institutional commercial real estate owner in the Inland Empire and recognized the unique nature of this opportunity to add to their significant holdings in this submarket,” said Jon Pharris, co-founder and president for CapRock Partners. “Prologis was confident in CapRock's proven ability to deliver projects on time and on budget - and we delivered on that promise with this distribution center.”
Prologis currently owns approximately 41 million square feet of industrial real estate in the Inland Empire.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
