Massive Visalia Industrial Park project ahead of schedule, no deal with Amazon

CapRock Partners, a Los Angeles based industrial real estate investor, announced this month that their Central Point III complex in Visalia at 1.27 million square-feet is ahead of schedule for construction.

Building 1, the first phase of a 2.7-million-square-foot, four-building industrial complex, has completed the tilting of the building’s concrete panel walls. Moving ahead of its original development timeline, Building 1 is now slated for completion in summer 2024, probably July. The building sits on 75 acres within CapRock Central Point III, part of CapRock’s larger 5-million-square-foot Central Point master plan in Visalia.

Bob O’Neill, senior vice president at CapRock Partners says the building is “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.”

Despite  rumors to the contrary, O’Neill says there is no lease in place with Amazon – the company that leased CapRocks other two large buildings constructed in the industrial park in the past few years.But O’Neill is optimistic the building will be spoken for soon with California’s strong economy, busy ports and the trend to re-shore companies manufacturing back to the US.

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.

“Visalia is grateful for the investment that CapRock has made in our community,” said Visalia Mayor Brian Poochigian. “CapRock has done big projects and Building 1 at Central Point III is another success in the making. Our city’s location gives us a logistical advantage when it comes to connectivity. That, coupled with our business-friendly environment and growing industrial park, makes Visalia ideal for projects like this.”

Building 1, located at 4001 N. Plaza Drive, 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 6,600 square feet of office space, ample power, ESFR sprinklers and 890 auto parking stalls.