Newport Beach-based industrial real estate investor CapRock Partners raised $700 million from its Logistics Venture Fund to invest $2 billion in industrial development totaling 15 million square feet throughout the Western US.
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Inland Empire Gets the Lion’s Share
According to the Globe Est., the Inland Empire will get three projects that CapRock will develop using the raised funds. These three projects include:
Saddle Ranch Business Park (2nd Phase)
Saddle Ranch Business Park is an 800K-square-foot, seven-building industrial warehouse complex in the Inland Empire. It is situated within minutes of Orange County and the Inland Empire West.
Palomino Business Park
The Palomino Business Park Project would redevelop approximately 110 acres of land within the City of Norco for a new business park that would include industrial, commercial, and office uses. It includes:
- 36 industrial buildings
- 3 commercial buildings
I-15 Logistics
This is a 1.2 million-square-foot logistics facility in Fontana. It’s the largest single industrial building in the Inland Empire west.
Value-add Industrial Projects
CapRock Partners invests in value-add industrial projects. It’s an oversubscribed fund, which now has a buying power of $$1 Billion and will be used to develop the three projects listed above.
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