By Faughn Hi-Tech • New Developments 0 Comments

Stratolaunch lands major private equity investment

One of eastern Kern’s most promising aerospace operations has secured a nine-figure investment — likely its largest ever — from a prominent private equity firm intent on extending the company’s leadership in hypersonic testing services. Stratolaunch announced Tuesday the investment by Florida-based Elliott Investment Management LP will allow the company to increase vehicle production capacity, boost flight frequency and pursue carrier aircraft.

Separately, in a federal investment almost certainly going to Stratolaunch, the House on Thursday passed an appropriations package that includes $15 million to enhance an undisclosed, reusable hypersonic testbed in Kern County. The 15-year-old Mojave-based company, already credited with successful hypersonic flights of reusable, autonomous aircraft, said the ultimate goal of Elliott’s investment is more and increasingly relevant demonstrations for the U.S. Department of War and its partners in the private sector.

“At a time when speed, scale, capability and execution matter more than ever, this investment (by Elliott) enables Stratolaunch to move faster and think bigger,” President and CEO Zachary Krevor said in a news release. “The United States does not have time for incrementalism.”

The capital commitment of a firm that reported managing more than $76 billion in assets as of June 30 complements an earlier investment by Cerberus Capital Management LP, a private equity firm based in New York City that reports having about $70 billion in assets. How soon the investment might bring new jobs to the region is hard to say. Stratolaunch spokeswoman Eva Folsom noted Wednesday that everything the company does, from engineering to manufacturing to production and test flights, happens in Mojave.

“As we increase our fleets, that increases our flight cadence, and the more we fly, the more we can expand our company,” Folsom said. She added that the ramp-up Elliott is funding is expected to happen by the end of this year.

Since March 2024, Stratolaunch has focused on essentially selling space. That is, the company does not build aircraft for sale but allows companies access to its testbed as they refine their own technologies.

Though recognized locally for its large carrier aircraft, Stratolaunch’s key innovation is a much smaller vehicle that can, and repeatedly has, flown at least five times the speed of sound. It calls its Talon class of planes “the first and only commercial autonomous, reusable hypersonic aircraft with multiple successful flights.”

The federal government has taken greater interest in hypersonic flight after reports in recent years that China and Russia have exceeded U.S. capabilities. The U.S. Department of War has indicated it wants to scale up to field hypersonic flights once weekly on average. A news story published this week by UK-based Aerospace Global News said Stratolaunch’s plans to increase its flight cadence addresses the Department of War’s push for quicker design-test-learn cycles.

“Exploring additional carrier aircraft reduces reliance on a single launch platform and opens the door to parallel operations across multiple test ranges,” the story stated.

Folsom said Stratolaunch hopes to have a new Talon ready to fly as soon as this quarter as the company works to produce others. In addition, it is looking to either buy a second Boeing 747 carrier or build another massive, dual-fuselage Roc carrier, she said. Elliott’s head of global private equity, David Kerko, said in Tuesday’s release that the firm looks forward to partnering with Cerberus and Stratolaunch executives to support the company’s growth.

“We are pleased that our capital can help extend the company’s market leadership in hypersonic testing services and enable its continued expansion,” Kerko stated.

https://www.bakersfield.com/news/stratolaunch-lands-major-private-equity-investment/article_2494261c-e73b-45b0-b579-54aec0f527e9.html

By Faughn Economy • New Developments 0 Comments

$22M Vallarta lease tops Central Valley deals

A $22.2 million retail lease at Visalia’s Eastgate Plaza topped the Central Valley’s commercial real estate deals in 2025 — part of a year dominated by industrial warehouses and big-box retail as office properties were a nonfactor. Industrial and retail properties dominated the Largest Commercial Real Estate Transactions list (see pages 8-9) in the Central Valley in 2025, according to the broker survey of transactions from Jan. 1 to Dec. 31.

Last year’s highest-dollar transaction was the $22.2 million retail lease signed by Vallarta Supermarkets at Eastgate Plaza in Visalia, which covers over 53,000 square feet. The retail center at 600 S. Lovers Lane will have seven buildings that include the supermarket, two retail stores, a carwash, two drive-thru restaurants and one drive-thru coffee house. The new Vallarta store would be 53,000 square feet with one co-anchored store with 26,000 square feet.

Close behind Eastgate Plaza was a $22 million industrial lease at Riggin Avenue in Visalia, spanning over 202,000 square feet. The two Visalia transactions highlight the Central Valley’s focus on large-format retail centers and industrial facilities.

Warehouse and industrial sales also were among 2025’s largest deals. A $21.5 million sale at 1467 E. Dinuba Ave. of the former Prima Wawona packinghouse in Reedley scaled more than 360,000 square feet, making it the largest industrial sale by area. Other large industrial transactions included a $9 million sale in Clovis and multiple leases in Visalia and Fresno over 100,000 square feet.

Retail leasing and sales continued to be active across Fresno and Tulare counties. Transactions included a $13.2 million lease on Blackstone Avenue in Fresno and a $9.9 million lease on Cesar Chavez Boulevard. Several retail sales ranging from $7 million to $5 million occurred in Fresno, Porterville, Bakersfield and Lemoore, showing continued turnover in established shopping corridors.

Office properties represented a smaller share of the year’s top transactions but remained present in higher-end submarkets. A $16.8 million office lease in north Fresno’s River Park ranked among the largest office deals, while a $6 million deal on Divisadero Street was another large sale.

Land sales appeared throughout the list, mainly in Fresno and Visalia.

Parcels ranging from around 10 to more than 40 acres traded at prices between $3 million and $7.2 million, indicating continued positioning for future development tied to industrial, retail and mixed-use projects. Across the full ranking, industrial and retail properties accounted for the majority of total transaction value, both in sales and long-term leases. The largest deals tended to cluster in Fresno and Visalia, with additional high-dollar transactions in Reedley, Clovis, Porterville, Bakersfield and Madera.

In 2024, retail made up six out of the top ten most expensive transactions.

https://thebusinessjournal.com/22m-vallarta-lease-tops-central-valley-deals/

By Faughn New Developments • Workforce 0 Comments

$42M manufacturing facility keeps Coast Aluminum — and its workers — rooted in Fresno

Coast Aluminum, Inc, a Hayward-based aluminum supplier, will break ground on a 163,000-square-foot manufacturing and distribution facility in Fresno, marking a major expansion for the longtime metals supplier and helping secure its future workforce in the region.

The ceremony is scheduled for 1 p.m. on Wednesday, Nov. 19 at 5255 E. Home Ave, near the Fresno-Yosemite International Airport (FAT). The project represents a $42 million investment, including land, development, construction and equipment, according to Coast Aluminum.

It’s slated to open in 2026.

Coast Aluminum has 16 locations across the Western U.S. and Northern Mexico, according to its website.

Coast Aluminum, Inc has a current location at 1360 E North Ave in South Fresno, which has sentimental value to Tom Clark, founder and owner of Coast Aluminum, Inc.

“This project is especially meaningful to me,” Clark said Tom Clark, founder and owner of Coast Aluminum, Inc. “We started our company in Hayward, California, in 1982, and Fresno became our very first branch in 1993. It was also the first building I ever owned and developed back in 1996 — the same one we’ll soon be moving from into this brand-new facility. This expansion represents not only growth, but a continued investment in our people, our customers, and the Fresno community that’s been part of our story from the beginning.”

Clark said the expansion reflects “a continued investment in our people, our customers, and the Fresno community that’s been part of our story from the beginning.”

Boise, Idaho-based Adler Industrial, LLC will be developing the project. They specialize in Class “A” Industrial properties across the Western United States.

Michael Adler, CEO of development firm Adler Industrial, said the company is “honored to be trusted with bringing their Fresno project to life.” After developing Coast Aluminum’s Boise facility in 2024, Adler said the renewed partnership “reflects the strength of our relationship and our shared commitment to quality, innovation, and community investment.”

Builder JB Steel Construction is based out of Oregon and specializes in commercial and industrial construction.

Russ Batzer, president of JB Steel Construction, said the design balances “efficiency, quality, and flexibility — everything we strive for in modern industrial design.”

He added that partnering with local subcontractors helps strengthen the local workforce.

Ethan Smith, a commercial real estate broker with Newmark Pearson, represented the seller of the land and said the project represents a breakthrough in bringing shovel-ready industrial space to Fresno.

Smith said the project began three and a half years ago, with the landowner taking on the upfront entitlement risk. That preparation allowed Adler to start construction within weeks of closing escrow — a first-of-its-kind scenario in the Fresno industrial market, he said.

Smith added that without the site, Coast Aluminum potentially could have had to relocate out of the city, but the property gives the company future growth potential and operational flexibility.

He said the approach of having developers and landowners complete the entitlement process for construction before selling the land is a step in the right direction.

“I think it’s a path forward in the city to get more projects out of the ground with developers being willing to go through this process,” Smith said.

The groundbreaking comes less than four months after Scannell Properties, a national developer broke ground in Southwest Fresno on the $100 million and 833,000 square foot Westgate Industrial Center, where Mayor Jerry Dyer proclaimed, “Fresno is open for business.”

$42M manufacturing facility keeps Coast Aluminum — and its workers — rooted in Fresno – The Business Journal

Despite having built other projects in California’s Central Valley, this project represents the first time Adler’s firm dealt directly with the City of Fresno. “The city has been great to work with. They’ve been collaborative, responsive, they’re pro-business,” he said. “Other cities in California can be more difficult, and that is all I am going to say about that.”

https://idahobusinessreview.com/2025/12/19/adler-industrial-idaho-class-a-expansion-fresno/

By Faughn Health/Medical • New Developments 0 Comments

Madera hospital cuts the ribbon on new clinic

Madera Community Hospital celebrated the grand opening of its new Family Health Services Center on Tuesday.

The new clinic, located at 1210 E. Almond Ave., was developed in partnership with American Advanced Management Inc. — which operates the Madera hospital — and received support from state leaders, including Assemblymember Esmeralda Soria, Sen. Anna Caballero and local leaders and residents who called for increased access to care.

The center, designed to serve the needs of rural communities, will include a range of services, including preventative screenings and wellness checkups, employment health and mental health services, pediatric and women’s health care, chronic disease management and specialty consultations and will aim to reduce the burden on emergency departments.

“This center is more than just a building — it’s a promise to our rural families that their health matters,” said Dr. Sony Sidhu, CEO. “We’re bringing care closer to home, and we’re doing it with compassion, expertise, and a deep commitment to community wellness.”

The center accepts all types of insurance, providing treatment for patients on MediCal and Medicare programs, as well as uninsured patients.

Attendees at the grand opening were treated to a community reception prior to the event, as well as a guided tour and opportunities to meet the care team at the new center.

https://thebusinessjournal.com/madera-hospital-cuts-the-ribbon-on-new-clinic/?mc_cid=6b862591a1

By Faughn Education • New Developments • Workforce 0 Comments

Tulare County WIB and College of the Sequoias launch Valley Build multi-craft apprenticeship readiness program

The Workforce Investment Board of Tulare County (WIB), in partnership with Valley Build, the Fresno Madera Kings Tulare Building Trades Council, and College of the Sequoias (COS), is proud to announce the expansion of the Valley Build MC3 Apprenticeship Readiness Program to Tulare County. Valley Build is a high-impact workforce initiative which prepares individuals for successful careers in the building and construction trades and has trained more than 50 cohorts over the last 16 years.

The Tulare Cohort is set to begin in January 2026, with the seven-week training program hosted at the COS campus. It will provide participants with industry-recognized certifications, essential hands-on training, and a pathway into union-supported registered apprenticeships. In addition to training, participants will receive a stipend during the program and have the opportunity to participate in paid work experiences aligned with their chosen construction-related careers.

This pre-apprenticeship utilizes the nationally recognized Multi-Craft Core Curriculum (MC3), which includes training in:

  • Construction Math
  • OSHA-30 Safety Certification
  • CPR and First Aid
  • Forklift Operation Certification
  • Physical Conditioning and Aptitude Preparation
  • Soft Skills Development
  • Career Exploration across Building and Construction Trades

“This pre-apprenticeship initiative reflects our commitment to investing in high-quality training that leads to family-sustaining careers,” said Jennie Bautista, Interim Executive Director of the WIB. “By offering stipends and paid work experience, we’re lowering barriers and creating real opportunities for upward mobility in the skilled trades—advancing equity, economic opportunity, and long-term job success for our community.”

The expansion of the Valley Build MC3 Apprenticeship Readiness initiative to Tulare County is made possible by a collaborative effort between the Tulare WIB, College of the Sequoias, and Employment Connection.

Thanks to a generous award of $768,897, the initiative will train residents across Tulare County for in-demand jobs in partnership with a variety of trade unions. Participating trades include, but are not limited to:

  • Electricians
  • Ironworkers
  • Carpenters
  • Sheet Metal Workers
  • Bricklayers
  • Cement Masons
  • Roofers
  • Plumbers/Pipefitters
  • Painters

Seats are limited, and interested individuals are encouraged to register now at www.valleybuild.net to secure a spot in the January 2026 cohort.

This initiative is fully funded by the High Road Construction Careers (HRCC) Resilient Workforce Fund, as part of a broader $8.8 million statewide investment to advance equity and access in construction careers.

https://www.ourvalleyvoice.com/2025/11/06/tulare-county-wib-and-college-of-the-sequoias-launch-valley-build-multi-craft-apprenticeship-readiness-program/

By Faughn New Developments 0 Comments

Kings County celebrates 2 broadband expansion projects

AT&T and Comcast recently held two groundbreaking  ceremonies for their major broadband infrastructure project in Kettleman City and the Lemoore  area.

The first groundbreaking was held on Thursday, Oct. 23, 2025, in Kettleman City. This project  connects 363 unserved locations throughout Kettleman City. Per the California Public Utilities  Commission (CPUC), an estimated population of 1,400 will now have access to high-speed  internet. AT&T’s infrastructure buildout also includes areas surrounding Kettleman City, such as  south of Kettleman City near Highway 41 and Kettleman Station, southwest along Highway 41,  and east of Kettleman City off Racine Avenue.

Construction for this buildout is scheduled to begin in early 2026. At the ceremony, AT&T also donated $1,500 to Kings County Firefighters  Association for their continued support to the Kettleman City community. The expansion is made  possible by a $4.07 million Federal Funding Account grant AT&T received from the CPUC and  additional funding from AT&T.

The second groundbreaking was held on Tuesday, Oct. 28, 2025, at Kings County Fire  Station 6, in the Island District. This buildout expands access to nearly 4,000 previously unserved  households and businesses in the Lemoore area and surrounding Island District. Construction  for this buildout is scheduled to begin late 2025 and be completed by late 2026. Comcast also  donated $10,000 to Kings Community Action Organization (KCAO) for their support to the Kings  County community, supporting their efforts to connect residents to crucial services.

This expansion was made possible by a $21 million Federal Funding Account grant Comcast received  from the CPUC and private funding by Comcast.

“We are thrilled that AT&T and Comcast are expanding its services to Kings County,” said Doug  Verboon, chairman of the Kings County Board of Supervisors (District 3). “These projects are a significant investment that will support local businesses and improve our residents’ quality of life.”

The County is excited to continue public-private partnerships aimed at expanding digital access and closing the digital divide for County residents.

https://hanfordsentinel.com/community/selma-kingsburg/news/kings-county-celebrates-2-broadband-expansion-projects/article_72fed228-32b5-425c-9e27-666a4062e73b.amp.html

By Faughn Logistics • New Developments 0 Comments

Tulare County greenlights rezoning of 718 acres near Goshen for industry, future development

The Tulare County Board of Supervisors has approved a plan to rezone 718 acres of farmland northwest of Goshen to accommodate both industry and additional uses in the future. The board approved the initiation of a general plan amendment on July 22, which would allow development of the area once all environmental studies are complete. The new zoning designation would be considered “mixed use.” The developer proposed building an industrial park on 190 acres west of Highway 99. The project was submitted to the county by developer Panattoni Development of Sacramento in collaboration with real estate firm Colliers International.

The project was submitted to the county at their Project Review Committee meeting in June. The site plan shows five large buildings of various sizes that add up to 3.85 million square feet along Highway 99. Development of the 718-acre plan would require cooperation with the City of Visalia, which supplies sewer service to Goshen, and approval from CalWater, which supplies water to the community.

Another notable part of the plan includes rezoning 137 acres at the northwest corner of Highways 99 and 198, also currently in agriculture. County Economic Development Manager Michael Washam said there’s no specific plan to develop this acreage, but he has seen interest in the past. The site enjoys the highest pass-by traffic count in the region.

In addition to these industrial and commercial potential projects, Goshen is slated for more housing projects due to available land there, including this initiative to open more, but depending on sewer capacity from the City of Visalia. San Joaquin Valley Homes and Self Help Enterprises are currently busy with projects in Goshen. It remains to be seen how Visalia will respond to these large-scale projects near the city limits. Recently, the City of Visalia initiated its 900-acre expansion plan for industrial and other commercial development near the airport.

https://thebusinessjournal.com/tulare-county-greenlights-rezoning-of-718-acres-near-goshen-for-industry-future-development/

By Faughn New Developments • Quality of Life • Tourism 0 Comments

Neighborhood market, Jamba Juice and fuel station break ground at Tesoro Viejo

A new neighborhood market, Jamba Juice and a 76-branded fuel station are officially under construction in Madera. The project, which was detailed in The Business Journal last year, is located near the southeast corner of State Route 41 and Avenue 15, and is scheduled to open next spring. It will include a convenience market, a car wash and Jamba Juice. It was developed in partnership with Yosemite Travel Center.

“We look forward to bringing a high-quality construction project that goes along with the high standards set by the Tesoro Viejo development,” said Peter Singh, developer and owner of Yosemite Travel Center, in a news release. “We plan to serve the needs of the residents at Tesoro as well as tourists headed out to Yosemite National Park.”

The fuel station will have six pumps with 12 fueling positions and will offer gasoline, diesel and ethanol (E85) fuel. It was originally supposed to include 12 Tesla charging stations; however, those plans were scrapped. The neighborhood market will focus on healthy grab-and-go foods, produce and snacks. Jamba Juice will bring its traditional menu of smoothies, bowls and juices.

“We’re pleased to welcome Yosemite Travel Center and this new development to Tesoro Viejo,” said Brent McCaffrey, President of Tesoro Viejo Development. “This new center will bring a range of conveniences to the community that will serve the needs of the area. Our residents and neighbors will enjoy having the market with a variety of fresh produce, healthy grab-and-go options, and more. Not to mention, Jamba Juice with its plant-based smoothies and delicious bowls. These are all wonderful additions to the community.”

The 1,600-acre Tesoro Viejo master-planned community in southeastern Madera County will include up to 5,190 homes, schools, parks, trails and a walkable town center. It was named the 2023 Community of the Year by the National Association of Home Builders.

https://thebusinessjournal.com/neighborhood-market-jamba-juice-and-fuel-station-break-ground-at-tesoro-viejo/?mc_cid=5a3d0b245b&mc_eid=c4726fd3b7

By Faughn Education • New Developments 0 Comments

Madera Unified looking to the future with construction of new school

With the new school year starting for many, Madera Unified is already looking into the future with a new campus. King Husein School is the school district’s newest campus for TK through eighth grade. The campus is currently under construction. The school is located on the south side of Cleveland Avenue, west of Westberry Boulevard.

The school district said the new school will serve up to 1,000 students. The campus will include 10 buildings with academic wings, a multipurpose building with music, drama, dining spaces, and an art and science building. There will also be play courts, ballfields, and a covered basketball court.

Madera Unified said what makes the new school “stand out” is its dedicated STEM building, which focuses on science, technology, engineering, and mathematics. The new school is set to open in August 2026.

https://www.yourcentralvalley.com/news/local-news/madera-unified-looking-to-the-future-with-construction-of-new-school/?utm_medium=social&utm_source=facebook_KSEE24_News

By Faughn New Developments • Workforce 0 Comments

Scannell breaks ground on $100 million Fresno industrial park

Scannell Properties broke ground on its new $100 million industrial park in southwest Fresno on Wednesday.

The project is proceeding after defeating environmental lawsuits in court seeking to block it.

The backstory: Last year Fresno lawmakers approved the warehouse project, which was quickly contested in court by a Southern California environmental justice group.

  • But the suit never picked up any steam as it was eventually dismissed in court.

The big picture: The property will provide around 1,000 jobs to Fresno.

  • It will span 48 acres located at the northeast corner of N. Marks and W. Nielsen avenues and will have four offices and warehouse buildings, totaling 833,000 square feet.

What they’re saying: Fresno Mayor Jerry Dyer said this is the biggest deal he has been part of since he became the mayor.

  • Will Oliver, the President and CEO of the Fresno County Economic Development Corporation, said Fresno had projects go to other states because of the lack of industrial space.
https://sjvsun.com/news/fresno/scannell-breaks-ground-on-100-million-fresno-industrial-park/