BILL CLARKSON, CCIM Commercial & Investment Specialist

Developer close to building out huge Phoenix industrial park along Loop 202

Developer close to building out huge Phoenix industrial park along Loop 202

  • By: BILL CLARKSON, CCIM
  • Posted: July 28, 2023

 
Article Originally Posted by PhoenixBusinessJournal on July 27, 2023
 

A manufacturer has signed on to a massive logistics park at the northeast corner of 59th Avenue and Van Buren Street in Phoenix.

Colson Group USA, which makes and distributes caster, wheel and hardware products, leased about 118,833 square feet of the new West 202 Logistics park and is expected to occupy the space for distribution uses in the fourth quarter of this year.

It's one of the first tenants planning to occupy a portion of the facility just south of Interstate 10 and east of the Loop 202 on more than 180 acres of infill industrial space.

The developer, California-based CapRock Partners, recently completed the first phase of West 202 Logistics including an initial 2.5 million square feet of space across five buildings. CapRock Partners declined to disclose the investment amount for the project.

At full build-out the project is expected to total 3.4 million square feet as the developer works to complete phase two, which will include three buildings totaling 827,330 square feet. A completion date for the second phase has not been determined.

CapRock Partners said the project will also represent one of the largest industrial developments ever built in Phoenix and one of the first large-scale projects to be built along the Loop 202 within the Phoenix city limits.

Payson MacWilliam and Don MacWilliam of Colliers International are leading leasing efforts on behalf of the developer. Josh Wyss of Cushman & Wakefield represented Colson Group.

"As a centrally located world-class logistics facility, CapRock West 202 Logistics is drawing interest from high caliber tenants such as Colson Group who are industry leaders committed to innovation, sustainability, and making a positive impact in the region," Payson MacWilliam said in a statement.

CapRock has multiple Valley industrial projects in the works

The first five buildings in the initial phase of West 202 Logistics range in size from 289,331 square feet to more than 1 million square feet with clear heights ranging from 32 to 40 feet. The second phase will also feature clear heights ranging from 32 to 36 feet.

“Combining state-of-the-art design, sustainable features, and strategic location, CapRock West 202 Logistics sets a new benchmark for industrial development. The project offers unparalleled advantages for tenants," said Bob O'Neill, senior vice president of acquisitions for CapRock Partners, in a statement.