CapRock Partners, a privately-owned investor and developer of industrial real estate in the Western and Central U.S., today announced the completion of CapRock West 202 Logistics – Phase 2, marking the final phase of Phoenix’s largest speculative industrial development.
Phase 2 delivers 825,000 square feet of Class A warehouse space across three buildings on 43 acres in the Southwest Phoenix submarket. With its completion, CapRock West 202 Logistics now totals 3.4 million square feet of modern, efficient industrial space across 183 acres, representing the first large-scale logistics complex along the South Mountain Freeway (Loop 202).
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“CapRock is excited to share the completion of CapRock West 202 Logistics, a landmark development built and designed to provide leading-edge warehouse solutions for a wide range of industrial users,” said Bob O’Neill, executive vice president at CapRock Partners. “From the onset, our vision for this unique infill site was to provide a best-in-class industrial campus that offers the scale, efficiency and connectivity required by both local and global businesses. We are grateful for the collaboration with the City of Phoenix and our incredible development team, contractors, architects and consultants in bringing this project to fruition.”
CapRock West 202 Logistics is located at the northeast corner of North 59th Avenue and West Van Buren Street, offering immediate access to I-10 and Loop 202. Downtown Phoenix and Phoenix Sky Harbor International Airport are within 15 minutes, and the majority of the Phoenix metro is reachable within 45 minutes. The location also provides efficient access to more than 230 million U.S. consumers within a three-day truck drive.
Phase 2, located at 675 N. 55th Avenue, includes Building F (301,771 square feet), Building G (295,586 square feet) and Building H (227,107 square feet). The buildings feature clear heights ranging from 32 to 36 feet and a combined 139 dock-high doors, catering to modern logistics, distribution and light manufacturing users.
Project completion coincides with CapRock securing a 1,063,188-square-foot lease for Building C, the largest building within the CapRock West 202 Logistics complex, to an undisclosed corporate tenant. As part of Phase 1, Building C is a modern cross-dock facility featuring 40-foot clear height, 159 dock-high doors, four drive-in ramp doors, 500 auto parking stalls and 279 trailer parking stalls, supporting high-volume distribution operations.
In the third quarter of 2025, CapRock also welcomed an undisclosed manufacturing tenant to the entire 532,713-square-foot Building B, also part of Phase 1. Phase 1 delivered five buildings totaling approximately 2.5 million square feet across 140 acres. Phase 1 of CapRock West 202 Logistics project is now 85 percent leased.
“CapRock West 202 Logistics brings a rare combination of freeway access and institutional-quality building specifications in a unique infill location, creating a clear operational advantage for tenants,” said Payson MacWilliam, vice chairman at Colliers. “The development stands out as one of the most strategically positioned industrial campuses in the Phoenix metro, offering unmatched connectivity and proximity to both population centers and key employment hubs.”
MacWilliam, Don MacWilliam, Chris Reese and Casey Koziol of Colliers represented CapRock in the Building C lease transaction and are handling all leasing efforts for CapRock West 202 Logistics.
“Phoenix continues to distinguish itself as one of the most important logistics markets in the country, supported by population growth, infrastructure investment and ongoing supply chain realignment,” said Jon Pharris, co-founder and president of CapRock Partners. “CapRock West 202 Logistics reflects our long-term conviction in this market and our strategy of delivering large-scale, high-quality industrial assets that meet the needs of global occupiers and support sustained regional growth.”
Upon full buildout, CapRock’s Phoenix-area portfolio will consist of approximately 7 million square feet of industrial space. The firm continues to pursue additional land acquisitions and development opportunities across the metro to meet sustained long-term demand.
