‘Build it and they damn well better come’
As we approach fall of 2024, three speculative industrial buildings adding up to more than 500,000 ft.in Visalia are well under construction and expected to be ready to lease out by early 2025. Adding more available buildings in different sizes to the industrial inventory here increases chances that companies will come to our area or locals can expand to add jobs and economic activity to the local economy.
Two of the new buildings underway are being developed by Visalia businessman Butch Oldfield just outside the city limits along Highway 99 and Goshen.
Here is a picture of the two in this August construction photo showing advanced progress. The developments are along Bradham Dr sandwiched between the Union Pacific rail tracks and freeway 99.
Each is about 115,000 ft. and available for lease in December 2024 according to the project website.
The other big project, well underway, is being built by Fowler’s G4 company, a 310,000 square-foot building on Kelsey just south of Goshen Avenue in Visalia.
Realtor Ethan Smith says the building will be available in early 2025 for a tenant. Description of the building says “The Class “A” logistics building is designed for tenants requiring state-of-the art functionality and features. The site and building design allows for over 300 parking stalls, 46 dock positions and 4 grade-level/drive-in doors. The building features 36’ clear height, ESFR sprinklers, 54’ x 58’ typical column spacing, 4000+ AMPS/480V electrical service, natural gas to the building and office area to suit. Landlord will consider adding solar to the rooftop.The property is located in the highly desirable industrial, office and commercial park near HWY 198 and Plaza Drive in Visalia, CA. The development is near 7M+ SF new logistics projects, including two new Amazon fulfillment centers, a new UPS regional sort and distribution hub and Ace’s new 1M± SF regional distribution center. Property is located on Kelsey Road (also called Road 84) between Hurley Avenue and Goshen Avenue. Access to the property is via HWY 198 and Plaza Dr. interchange, which is less than one mile from HWY.”
The three new ‘spec’ buildings will be added to the recently completed 1.27 million square-foot CapRock building on Plaza Drive that is also seeking a tenant. Add in the 176,000sf ‘spec’ building on Riggin and Clancy owned by YS Industries, that is still available. Put it all together and you have over 2 million square feet of uncommitted industrial space ready for companies who may want to move in a short time frame.
Visalia has a long tradition of building speculative space that dates back to the 1990s pioneered by Fresno developer John Brelsford who has built around two million square feet of spec space in Visalia over the years and almost all of it filled. The firm manages more than 8 million square feet of industrial properties from Visalia to Fresno — more than 45 buildings.
His company. Diversified Development is looking to build 2.8 million square feet in eight buildings on 150 acres purchased from the Doe family on the northwest corner of Plaza and Riggin — clearly Visalia’s hottest address – one of number of huge projects that could bring millions of square feet to the city in the next decade if the economy holds out.
Developers like CapRock have put in somewhere around $100 million to construct their giant building and are making a giant bet that if you build it, they will come.’ With that kind of money on the line,you might forgive them if they say ‘they damn well better come.’
Photo of two new industrial buildings on the edge of Visalia nearing completion this month.