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1/23/24
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In a SoCal industrial development update, CapRock Partners has completed the tilting of the concrete walls of Building 1 at CapRock Central Point III in Visalia. The structure is the first phase of a 2.7 msf, four-building speculative industrial complex.
Moving ahead of its original development timeline, Building 1 is now slated for completion in summer 2024. The 1.27 msf, Class A logistics and distribution facility encompasses approximately 75 acres within CapRock Central Point III, which is a part of CapRock’s larger 5 msf Central Point masterplan.
“Building 1’s concrete walls are now tilted and the roof structure started, revealing the true magnitude and scale of CapRock Central Point III, and signifying Visalia’s rising importance as a critical distribution and logistics hub in the West,” said Bob O’Neill, senior vice president, acquisitions at CapRock Partners. “Designed to serve Fortune 100 corporations seeking a state-of-the-art industrial complex accessible to a large percentage of the West Coast’s population, CapRock Central Point III is drawing interest from leaders in logistics as well as food processing and manufacturing.”
Visalia’s increasingly essential role in California’s industrial warehouse market and the broader U.S. logistics supply chain is drawing prominent corporations looking to benefit from the city’s unmatched connectivity, abundant land at relatively lower real estate costs, and robust supply of educated workers. UPS, Amazon, Ace Hardware, Smuckers, VF Corporation, FedEx, and International Paper, and others, have already established locations within Visalia’s industrial area.
Building 1, located at 4001 N. Plaza Dr, is easily accessible to major Central Valley transportation including air, rail and highways, including State Route 99, which runs through the Central Valley and connects to major interstates I-5 and I-80. CapRock Central Point III’s position will allow its future tenants to reach over 50 million customers with one-day ground shipping, making it one of the only locations in the U.S. capable of reaching as large of a population base within the short timeframe.
At completion, Building 1 will feature 40-foot clear height, 274 dock-high doors and two ground-level doors. The cross-dock building will include approximately 6.6k sf of office space, ample power, ESFR sprinklers and 890 auto parking stalls. With a fully secured fenced yard, the property will provide drive-around access, a truck court depth of 185 feet, dedicated truck circulation and 542 excess trailer parking stalls.
Mike Fowler, Mike McCrary and Mac Hewett with JLL are leading the leasing efforts for CapRock Central Point III.
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