Visalia Industrial Park developer files plan for two new 1.1 million-square-foot buildings next to Amazon and UPS
VISALIA – Newport Beach-based industrial developer CapRock Partners sold their first 58 acres to United Parcel Service three years ago and now they are leasing property currently under construction for a new Amazon fulfillment center.
Amazon fulfillment construction is underway now on their 1.3 million-square foot “fulfillment center” here. UPS has opened in their new location hiring hundreds of employees. Now CapRock Partners has filed plans for its next behemoth project – rather a pair of projects – north and west of UPS and Amazon.
According to the plan submitted last week on 150 acres between Plaza and Kelsey, Modoc Ditch north to Avenue 320—the huge “spec buildings” would be side-by-side to be planned and permitted ahead of a deal with any tenant. Planning for the new Amazon building started a year ago before breaking ground a couple of months ago.
Sources say that similar to the Amazon deal, CapRock may be working with a prospect tenant already.
The industrial park has about a dozen ‘spec buildings’ in various stages of development including two 300,000-square feet tilt-up buildings already near completion and standing. The developer told Sierra2the Sea News Service there may soon be tenants announced. Fresno developer John Brelsford has two new ‘spec buildings’ under construction now at the south-east corner of Plaza and Riggin and owns 150 acres ready to build on land located at the north-west corner of Plaza and Riggin.
Demand for distribution facilities has surged due to the pandemic, as more consumers get goods ordered by computer to be shipped to their front doors.
UPS and Amazon are each the poster child for surging demand with UPS recently announcing third-quarter 2020 revenue of $21.2 billion, a 15.9% increase over the third quarter of 2019. Amazon reported revenue up 37%.
Between the two companies they account for an expected 1,600 jobs in Visalia.
Helping to juice development all along the Riggin Avenue corridor has been the completion of the Betty Drive interchange connecting the northern tier of Visalia to Highway 99. Besides an industrial boom, a residential boom is underway to the east of the industrial park.