California real estate developer raises $180 million, plans Arizona projects

By Corina Vanek | Phoenix Business Journal

Industrial real estate investor and developer CapRock Partners closed on two rounds of funding totaling $180 million for one of its industrial value-add funds, some of which will be used to buy and operate Phoenix-area real estate.

The Newport Beach, California-based company is scheduled to close escrow on a 146,500-square-foot industrial building near 43rd Avenue and McDowell Road before the end of June, said Bob O’Neill, senior vice president of acquisitions. That building, which can accommodate between one and four tenants, has had strong interest for leasing.

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