Firm secures funds to buy Chandler Airport Business Park
INDEPENDENT NEWSMEDIA
Posted 6/21/24
The firm CapRock Partners has secured about $64.1 million in financing to buy a portfolio that includes two newly built, multi-building business parks totaling 562,969 square feet, according to a …
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Firm secures funds to buy Chandler Airport Business Park
(Courtesy of Cushman & Wakefield
The firm CapRock Partners has secured about $64.1 million in financing to buy a portfolio that includes two newly built, multi-building business parks totaling 562,969 square feet, according to a news release. One of the properties is the Chandler Airport Business Park.
Posted
INDEPENDENT NEWSMEDIA
The firm CapRock Partners has secured about $64.1 million in financing to buy a portfolio that includes two newly built, 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.
Leasing activity is underway, according to the release.
A $38.5 million floating-rate, bridge loan for Chandler Airport Business Park was provided by funds and accounts managed by BlackRock’s US Real Estate Debt team in March, the release states.
Both multi-building parks consist of new industrial, warehouse 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 features 28- to 30-foot clear heights and parking for 428 auto parking stalls.
Both industrial parks have speculative office space, ESFR sprinklers, multiple loading positions, large secured concrete truck courts, full-warehouse HVAC and LED lighting, the release states.
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