July 9,2014
Fresno developer John Brelsford has submitted preliminary plans to build 402,000 square feet of new industrial building in the Visalia Industrial Park. Brelsford’s company – Diversified Development Group – already built some 1.5 million sf in Visalia that is nearly filled with tenants.”This will be the first new buildings in either Visalia or our Fresno properties that we have undertaken in five years” remarks Brelsford,a sign of how tough the past few years have been in the region’s economy.
“We recently signed up two new tenants totaling 172,000sf at our Plaza Industrial Park says associate Marcus Pignotti – Ashley Furniture and Perfection Foods. All we have left is around 30,000sf.”
“Visalia’s industrial vacancy rate has definitely come down quite a bit this year” he adds.
Brelsford says the new “spec” buildings, constructed without any firm commitments from tenants, will be 142,000sf,166,000sf and 93,000sf, – all tilt-up concrete buildings that go up fast.
The location is next to the giant VF Corp facility at Riggin and Ave 76. Brelsford acquired 20 acres there last February out of bankruptcy from Bank Of America. The land had been owned by the Allen Group. Brelsford owns another vacant parcel acquired the same way at the southeast corner of Plaza and Riggin – about 34 acres.
Pictured: DDG’s existing industrial park in Visalia
“We expect to be under construction by October” Brelsford says.
Regards the recessionary times we have seen in the economy Brelsford notes that his Visalia industrial space has stayed at 92% occupancy even during the tough times.
“We build when we see there is market demand and we see that now.” He adds that around 60% of demand comes from local companies who find they need more space.
Great News
Visalia Economic Development specialist Devon Jones. who started his position with the city in February said “we are excited that Diversified wants to develop their property.”
Visalia Mayor Steve Nelsen called the plan “great news for the city and the industrial park” adding that “our central location makes it possible to ship overnight all over the state.”
Adding 400,000 sf of new commercial in the industrial park will be the largest space built in the park since 2011 when VWR was permitted at 500,000 sf.The heyday of industrial construction came in 2005,2006 and 2007 when the city added a combined total of more than 5.2 million sf of new commercial buildings in town,largely in the industrial park.
Visalia has devoted more than 1,500 acres of the northwestern portion of the city to support industrial growth and employment. An estimated 5,000 people work in the industrial park at distribution centers and manufacturing and food processing plants.
Located in Fresno, CA, Diversified Development Group(DDG) is a real estate development corporation that was formed in 1979 to develop industrial and commercial properties in Central California. Over the past 30 years DDG has developed in excess of 8 million sq.ft. of projects throughout Central California.