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CapRock Partners leases 1.27 million SF warehouse building in Visalia

The Building 1 lease is the first tenant-committed structure within CapRock’s four-building, 2.7 million-square-foot CapRock Central Point III speculative development.

Reported · Written up by our desk · Industrial & Land

Industrial investor and developer CapRock Partners said Building 1 at CapRock Central Point III in Visalia has been fully leased to an undisclosed global corporate tenant, via a commitment totaling 1,270,750 square feet, according to ConnectCRE.

The leased property is located at 4001 N. Plaza Dr., and the deal is described as one of the largest industrial lease transactions completed in California’s Central Valley in recent years.

ConnectCRE said the 2.7 million-square-foot project includes four buildings, and Building 1 is the first building within the development. The broader effort is part of CapRock’s larger five-million-square-foot, LEED-certified Central Point master plan.

ConnectCRE also reported that lease terms were undisclosed and that the transaction was facilitated by JLL executive managing director Mike Fowler and partners Mike McCrary and Mac Hewett. CapRock VP of asset management Monique Snowden said occupiers are seeking strategic locations to move faster, operate more efficiently, and scale, citing Visalia’s access, labor, and capacity.

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