Kern County, California is on the verge of becoming a global logistics and distribution hub. And California's richest family is leading the way.
billionaire stewart and Linda Resnickowned together great companywants to effectively double the size of its 1,625-acre industrial campus, called the Master Plan. Wonderful Industrial Parkapproximately 160 miles north of Los Angeles and adjacent to the town of Shafter, California.
The Resnicks, who own tens of thousands of acres of almond and pistachio orchards in California's Central Valley, plan to clear 1,800 of those acres near Shafter to make room for new development. by Los Angeles Times. The company has filed a rezoning application with the city of Shafter for that purpose.
The industrial park has been in development since the mid-1990s, and Wonderful purchased it in 2011. Since then, the industrial park has become one of the Golden State's logistics powerhouses, with more than 10 million square feet of industrial space in operation and an additional 16 million square feet of entitled industrial space. Added. For development. It also houses distribution centers for major Fortune 500 companies. Amazon, walmart and the goal.
Wonderful officials said they are aware of the problems caused by other mega-developments swallowing small communities elsewhere in California, such as Bloomington and Fontana in the Inland Empire. LA Times The company said it plans to invest millions of dollars in new infrastructure that can reduce the impact of its expansion in Shafter.
This includes working with local governments to build a new six-lane highway that will help ease traffic and trucking congestion in the town of about 20,200 people, and an already bogged-down highway. It includes bailing out Highway 99 and providing at least $120 million to ease traffic congestion. The company is aiming for a new inland rail terminal to be completed in spring 2025, but both projects require multiple approvals.
Wonderful's presence in Shafter, while it may be a bit of an eyesore, is a boon to the local economy, creating about 10,000 warehousing, trucking and other logistics-related jobs, according to Wonderful. That's what it means. Once the industrial park expansion is complete, it could ultimately support up to 50,000 jobs, company executives said. LA Times.
Wonderful has also reportedly agreed to create a fund in Shafter's local park district if the rezoning plan is approved, allowing warehouse tenants to work towards enhancing sports, arts and cultural programs in the local community. , you will pay 2 cents per square foot per month.
Representatives for Wonderful and Shafter city planning officials did not respond to requests for comment.
Southern California has become famous for its industrial real estate market, especially the Inland Empire region, which is now the largest in the nation, with more than 717 million square feet of warehouse, distribution, and logistics space. However, a volatile economy and high interest rates have slowed sales and leasing in recent days, with transaction area down 32% last year and total value sold down about 44% year-on-year. according to, Report from securities company NAI Capital At the beginning of this year.
Nick Trombola can be contacted at: ntrombola@commercialobserver.com.
