CapRock Adds Papago Distribution Center to Phoenix Portfolio

The industrial investor partners with an institutional client to purchase the 226,000-square-foot distribution center.

By Kelsi Maree Borland | July 30, 2019 at 04:00 AM

CapRock Partners and an unnamed institutional client have partnered to purchase the Papago Distribution Center in Phoenix. The partnership purchased the property from a global asset manager for an undisclosed price.

The Papago Distribution Center is a 226,446-square-foot distribution center in Phoenix. It is 100% occupied by Updike Distribution Logistics. This purchase brings the firm's Phoenix portfolio to 340,000 square feet.

Brokers Bo Mills and Mark Detmer at JLL represented CapRock in the Papago Distribution Center acquisition transaction.

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Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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