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Competitive Real Estate

Not just in population which has been tracking at a rate of four to five percent for the past few years, but now industries and commercial businesses are finding Central California is ideal for expansion.

“The commercial sector is expanding at a record pace,” explains Duane Keathley, Director of Commercial Development at CB Richard Ellis, “faster than I’ve seen in more than 20 years.”

“I believe we are in a development boom phase for industrial buildings” says Lou Ginise, Sr. VP of Relations at Grubb & Ellis/Pearson Commercial in Fresno. More and more businesses are recognizing the advantages of doing business in Central California. Advantages like lower labor costs, excellent highway and rail access, and local governments with pro-business attitudes. While California home values surged then dropped, real estate values in Central California remain some of the most affordable on the West Coast.

“The residential downturn has unfairly colored the rest of the market,” explains Wayne Kress of CB Richard Ellis.

“The shift we’ve started to notice is so many inquiries from regional and national markets wanting to relocate into our market, it’s the most we’ve had since 2002. As a result we’re really bullish about the immediate future for the industrial sector.”

Industrial Sales Prices:
$25-$80 sf., depending upon amenities