{"id":1004175847,"date":"2017-05-09T06:50:17","date_gmt":"2017-05-09T14:50:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004175847"},"modified":"2022-12-09T00:20:37","modified_gmt":"2022-12-09T08:20:37","slug":"socal-investment-firm-nabs-2-las-vegas-industrial-parks","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/socal-investment-firm-nabs-2-las-vegas-industrial-parks\/","title":{"rendered":"SoCal Investment Firm Nabs 2 Las Vegas Industrial Parks"},"content":{"rendered":"

By Evelina Croitoru<\/p>\n

\"3021<\/a>

3021 S. Valley View Blvd., Las Vegas, Nev.<\/p><\/div>\n

CapRock Partners has purchased two industrial parks in Las Vegas. The company acquired the properties well below the market value in an off-market transaction from two separate owners. CenterSquare Investment Management was CapRock\u2019s capital partner on both properties.<\/p>\n

The deal comprises two assets totaling 203,134 square feet. The location of\u00a04350 Arville St. features 160,554 square feet of multi-tenant industrial space. The park is located less than two miles away from the Strip in Las Vegas\u2019 southwest submarket. CapRock plans to implement extensive renovations to both the interior and exterior of the property. Additionally, the company intends to put into action an aggressive leasing strategy handled by a new leasing team and an on-site project manager.<\/p>\n

\"4350<\/a>

4350 Arville St., Las Vegas, Nev.<\/p><\/div>\n

Located at 3021 S. Valley View Blvd., Valley View Business Park features 42,580 square feet and is also located two miles away from the Strip, in the southwest submarket. The fully occupied incubator industrial park offers 24 units ranging in size from 972 to 2,180 square feet.<\/p>\n

\u201cWith vacancy rates in this submarket declining and rents improving for light multi-tenant industrial and almost no new development of that product type on the immediate horizon, CapRock Partners is ideally positioned to implement its proven value-add development approach with both assets – and to realize significant gains for our investors<\/em>,\u201d CapRock\u2019s Co-Founder & President Jon Pharris, said in prepared remarks.<\/p>\n

JLL\u2019s Rob Lujan, Jason Simon and Xavier Wasiak represented CapRock in the transaction and will handle leasing for both assets.<\/p>\n

Images via GoogleMaps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

CapRock Partners purchased two multi-tenant industrial parks totaling 203,134 square feet. The newly purchased assets are located less than two miles away from the Las Vegas Strip.<\/p>\n","protected":false},"author":1055,"featured_media":1004508769,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,1593,21742,15],"tags":[35408,33334,32796,35409],"class_list":["post-1004175847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-las-vegas","category-latest","category-west","tag-caprock-partners","tag-centersquare-investment-management","tag-jll","tag-jon-pharris"],"acf":[],"yoast_head":"\nSoCal Investment Firm Nabs 2 Las Vegas Industrial Parks - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/socal-investment-firm-nabs-2-las-vegas-industrial-parks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SoCal Investment Firm Nabs 2 Las Vegas Industrial Parks\" \/>\n<meta property=\"og:description\" content=\"CapRock Partners purchased two multi-tenant industrial parks totaling 203,134 square feet. The newly purchased assets are located less than two miles away from the Las Vegas Strip.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/socal-investment-firm-nabs-2-las-vegas-industrial-parks\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-09T14:50:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:20:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/3021-Valley-View.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1246\" \/>\n\t<meta property=\"og:image:height\" content=\"721\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/socal-investment-firm-nabs-2-las-vegas-industrial-parks\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/socal-investment-firm-nabs-2-las-vegas-industrial-parks\/\",\"name\":\"SoCal Investment Firm Nabs 2 Las Vegas Industrial Parks - 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