By Jennifer New Location 0 Comments

CapRock breaks ground on Visalia location

VISALIA – On Aug. 24, CapRock Partners announced their groundbreaking of Building I, a 1.27-million-square-foot industrial warehouse development that will provide 100s of jobs once it finishes construction in the third quarter of 2024. The construction of this facility is part of CapRock’s Central Point masterplan, which upon completion will total up to 5-million-square-feet of logistical distribution space to lease to various companies likely to fall under the “fortune 100 banner;” such as companies like, or akin to, Amazon or UPS.

While CapRock doesn’t currently have a tennent set to occupy the space – which began construction this summer – the facility will allow its occupant to reach over 50 million customers with one-day ground shipping.

“CapRock is excited to be underway in constructing the first building at CapRock Central Point III in Visalia, a vibrant industrial market and logistics hub providing unmatched connectivity in the heart of California’s Central Valley,” CapRock’s senior vice president Bob O’Neill said in a press release.

As Visalia is located approximately 230 miles north of Los Angeles and 230 miles south of San Francisco, it has become a hub of logistical distribution spaces. The city’s industrial park is already occupied by prominent companies such as UPS, Amazon and FedEx.

However, location isn’t the only thing Visalia has to offer. According to O’Neill, the layout of the city itself makes the implementation of facilities such as Building I more practical.

“The city of Visalia is actually one of the best planned cities in the state of California, as far as their master plan,” O’Neill said in an interview with The Sun-Gazette. “They’ve invested heavily in the infrastructure to service these industrial areas, in order of widening streets and providing great access to the 99 freeway and Highway 198.”

Not only does Visalia’s infrastructure benefit the developing facilities and their future effectiveness, it also benefits the city itself.

“Once Building I is completed, the new property tax bases will benefit the city, as opposed to what it was before with just farmland,” O’Neill said.
Should CapRock deem the area as highly desired, they will move forward with the implementation of construction of three other buildings, which will bring more jobs and more tax funds.
“It’s all going to be driven by market demand in the overall economy,” O’Neill said. “So if (Building I) leases during construction, and we’re seeing robust demand that’ll warrant us proceeding with these other three buildings, we will go ahead and do that.”

Building I — along with the rest of Central Point III — will be located at 4001 N. Plaza Drive, adjacent to the 88 acres of land CapRock previously sold to UPS for the development of one of the logistics company’s largest facilities in the Western U.S. CapRock has various other facilities around California as well as in other states such as Nevada, Arizona and Texas. They are an investment and development organization that hopes to continue spreading west and up the coast to create more distribution centers to allow people faster access to various products and services.

https://thesungazette.com/article/news/2023/08/27/caprock-breaks-ground-on-visalia-location/

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