-October 22,2019-
‘Spec’ Building Trend Accelerates
Japanese-based YS Holdings Inc, LLC has purchased 38 acres in the Visalia Industrial Park on Riggin across the street from the new UPS hub that is under construction now.The company plans to construct two 300,000 square foot distribution centers says representative Freddie Molina.
“We have given the green light to our contractor, BJ Perch to begin the construction process and complete the work in 13 months.” Perch is based in Visalia.
They plan to seek tenants for their “spec” buildings – a growing trend in Visalia.
The investment group bought the land from the Ritchie/Vidovich partnership who have three remaining parcels for sale nearby and has sold its first parcel last year to Millipore Sigma who are now building a new distribution facility.
Next to UPS another developer LA-based CapRock Partners is working on construction drawings for a 1.13 million square foot industrial building with the building of that spec building expected to start in early 2020.It would be Visalia’s largest building.
A third spec builder, Fresno’s John Brelsford is underway with another large project around 800,000sf at Plaza and Riggin after filling his last three speculative buildings with new tenants nearby.
Besides the mega projects, several area developers like Pickett & Sons Construction and American Air are underway with small 5000 to 25,000sf spec buildings for tenants wanting to move quickly on their businesses plan.
Caption: new development indicated with star. Across the street is the new UPS hub and another 1.13 mil square foot building
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