Firm secures funds to purchase Chandler Airport Business Park

INDEPENDENT NEWS MEDIA

CapRock Partners has secured approximately $64.1 million in financing to purchase a portfolio that includes two new-build, multi-building business parks totaling 562,969 square feet, according to a news release.

One of the properties in the portfolio is an industrial park in Mesa. The other is the Chandler Airport Business Park.

The leasing activity is ongoing, according to the release.

A $38.5 million variable rate loan for Chandler Airport Business Park was provided by funds and accounts managed by BlackRock’s US real estate debt team in March, it said.

Both multi-building parks consist of new industrial, warehousing and distribution buildings.

Chandler Airport Business Park is a 318,683-square-foot, four-building industrial park on ±20 acres at the northwest corner of Queen Creek Road and Cooper Road.

The park has clearance heights of 28 to 30 feet and parking for 428 parking spaces.

Both industrial parks feature speculative office space, ESFR sprinklers, multiple loading bays, large secured concrete truck lots, full warehouse HVAC and LED lighting, the release said.

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