Dirt is Finally Moving!
While the vacancy rate remains flat, at 0.33 percent for the fifth quarter in a row, dirt is finally moving on multiple projects in the Madera industrial market. Two projects are underway in the Brickyard Industrial Park, located just off highway 41 near Valley Children's Hospital. One project is slated to be the new home of Nova West Solar. The other is a 27,160 square foot tilt-up that will have 10,000 square feet available sometime this summer.
Another building is under construction in the Airport Industrial Park. A ground breaking ceremony for a new 83,000 square foot almond processing facility owned by California Custom Processing was held in November. This construction activity is a welcome sign that there will be more to come in 2017. Shovel ready land for industrial development is available for sale in the Airport, Madera, Freedom and Brickyard industrial parks. There were no industrial lease transactions or sales in the third quarter, but new construction should spur more activity throughout 2017.
Riverstone, the 2,000 acre, master planned community along the Highway 41 corridor, recently completed the first set of model homes and announced their grand opening. At full build-out there will be 8 districts with over 6,500 residences, multiple community clubhouses, walkable neighborhoods, on site schools, 115 acres of parks and open space, hiking and biking trails, a community farm and a dog park.
For more information on available properties and current development incentives go to the Madera Economic Development Commission website at http://www.maderacountyedc.com/available-properties.html.
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