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Rendering of 5104 Express Ave. Image courtesy of Wonderful Real Estate
Wonderful Real Estate has started construction on a 1.1 million-square-foot development situated in Shafter, Calif., within the Central Valley market. The development is part of Wonderful Industrial Park, a master-planned, 1,625-acre distribution center with 10 million square feet already completed. Designed for manufacturing and distribution, the latest component is expected to be delivered in the second quarter of 2024.
Located at 5104 Express Ave., less than 15 miles from central Bakersfield, Calif., the facility will include 40-foot clear heights, two grade-level doors, 216 dock-high doors, 455 parking spots and 939 trailer parking spots. This is the fifth speculative project delivered by the developer in the past five years.
Multi-tenant campus in California’s Central Valley
Wonderful Industrial Park has almost 10 million square feet occupied by companies such as Walmart, Amazon, FedEx, Target and Ross Stores; the latter occupies more than 3 million square feet, having been a tenant since 2014.
In 2022, food manufacturing company J.M. Smucker Co. leased 3800 Fanucchi Way, a 1 million-square-foot speculative building, while another 309,000-square-foot property was leased by GAF, one of the biggest manufacturers of waterproofing and roofing products in U.S. The industrial park’s currently available lots can allow for more than 25 million square feet of additional space.
The industrial campus, situated close to State Highway 99 and Interstate 5, offers access to the ports of Los Angeles, Long Beach and Oakland, while also providing its occupants access to 700,000 residents in the area. The developer is also wrapping up designing a 415,000-square-foot speculative property within the master-planned park, expected to be break ground this summer, with completion scheduled for 2024’s first half.
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