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News release

Shafter, Calif

Wonderful Real Estate Expands California's Central Valley Industrial Market, Breaking Ground on New 1 Million SF Speculative Building

JLL's marketed property to offer 40 foot clear, access to four major U.S ports and 300-foot truck courts


SHAFTER, CALIF., September 18, 2017 – Looking to capitalize on pent-up demand for efficient industrial space in the Southwest and West Coast, Wonderful Real Estate announced today that construction is underway on its latest one-million-square-foot industrial building located within Wonderful Industrial Park, a 1,625-acre, rail-served industrial development in Shafter, California. Located at 4100 Express Avenue, this will be one of only a handful of million square foot or greater industrial buildings under speculative development in the United States that features 40-foot clear height, access to four major U.S. ports and oversized large truck courts. The building will be available for occupancy March 2018.

JLL's Mike McCrary, Peter McWilliams and Mac Hewett are leading the leasing efforts at Wonderful Industrial Park which is able to accommodate a variety of industrial requirements ranging from approximately 100,000 to 2 million square feet of space.

"Strengthening market fundamentals, growth of e-commerce and awareness of the Central Valley industrial market has given us the confidence to go spec on a new one million square foot industrial building," said Joe Vargas, President of Wonderful Real Estate Development. "The combination of a state-of-the-art features, in place infrastructure, abundant workforce and access to neighboring West and Southwest markets makes this the premier property for expanding industrial users."

4100 Express Avenue will feature 300-foot truck courts, 700 trailer parking stalls, 183 dock high doors, 8-inch slab designed to meet multi-level e-commerce uses , high speed fiber optics network and access to a deep and dependable workforce. Additionally, Wonderful Industrial Park is a short distance to four major U.S. ports ─ Los Angeles, Long Beach, Hueneme and Oakland ─ which import and export a combined container volume of 18 million TEUs annually or 37% of total US volume.

"The Central Valley industrial market continues to grow as users see the benefit of easy access to West Coast, Southwest and Midwest markets together with a strong labor pool that includes a population of over 750,000 within a 30 minute drive from the park. Several large corporations have recently expanded into the area and we expect this to continue as e-commerce evolves and retailers adapt to changing consumer demands." said Hewett. "In an industry where qualified labor is becoming increasingly competitive and turnover is on the rise, tenants of Wonderful Industrial Park continue to benefit from a local workforce that is not only loyal but continues to flourish. Existing tenants consistently report annual labor turnover rates in the low single digits and have found the quality and the reliability of the workforce in Shafter to be superior to their workforces in other parts of California."

Wonderful Industrial Park's central location gives companies access to a robust transportation infrastructure. In addition to port proximity, the property is minutes from Highway 99, Interstate 5 and Highway 58, allowing access to 14 percent of the U.S. population within 300 miles.  It has a FedEx Ground hub onsite and is nearby a UPS ground hub in Bakersfield, Calif with Meadows Field Airport located only seven miles away. Wonderful Industrial Park also features an onsite rail yard with more than 17,000 feet of track able to accommodate unit trains with direct access to Burlington Northern Santa Fe (BNSF) Railway's mainline.  The area is home to several premier corporate industrial users including Target, Ross Stores, American Tire Distributors, DMSI, MRC Global, and FedEx.

 

About Wonderful real estate

Wonderful Real Estate is a professional real estate development and property management company owned by the Wonderful company a $4B consumer goods company that grows, harvests, bottles, packages and markets a diverse range of healthy products including Fiji Water, Wonderful Pistachios, POM Juices and Halo mandarins.  Wonderful Real Estate develops, manages and invests in a diversified portfolio of real estate, with a particular focus on office and industrial properties. Leveraging over 30 years of experience in commercial real estate, Wonderful and its affiliates currently have nearly 7.5 million square feet of real estate holdings, consisting of owner-occupied industrial and commercial real estate for its operating businesses and approximately 4 million square feet of actively managed office and industrial properties occupied by third parties located mainly in Southern and Central California. 

Wonderful Real Estate and its affiliates have invested almost $2 billion since 2008 for commercial real estate development, facility improvements, processing equipment and real estate acquisitions.  Wonderful and its affiliates are also currently developing three business parks totaling over 1,865 acres for office and industrial use in California's Central Valley, a number of parcels of which have already been sold or leased to Fortune 500 companies and other high quality anchor tenants.


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.