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.
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.