Madera Co. industrial vacancies hard to find

Source: The Business Journal

 Industrial vacancies fell below 1 percent for the first time since the recession began, leaving very little building space for manufacturers to fill. According to a recent report by TK Consulting, the county's vacancy rate dropped to 0.55 percent in the fourth quarter compared to 1.22 percent in the previous quarter and 3.86 percent a year ago. That means of the slightly more than 7 million square feet of building space for industrial purposes in Madera County, there is only 38,664 square feet still available to manufacturers. The inventory includes multi-tenant and single-tenant buildings with at least 5,000 square feet. The report also showed monthly rental rates for industrial purposes averaging 38 cents per square foot during the latest quarter with a high of 45 cents and a low of 30 cents. Asking rents have trended upward, increasing 4 cents per square foot over the last 12 months. One notable transaction mentioned in the report was the lease of a 18,000 square-foot building located in the Brickyard Industrial Park in Madera. Having been vacant for several years, the building is currently under renovation to be occupied by Granite Mountain Stone Design. Another 7,520 square-foot building is also being offered for sale. Demand for almonds has prompted much of the industrial space filled in 2013, the report mentions, as processors expand their operations to handle newly planted trees in the county. Other available properties for sale or lease can be found on the Madera County Economic Development Commission webs tie at www.maderaindustry.org. The organization, which is tasked with recruiting companies to the county and helping existing ones expand, is currently working with several developers on a plan to increase the amount of building space by preparing large properties with shovel-ready infrastructure like streets, lights and water connections to entice manufacturers.

URL to original article: http://www.thebusinessjournal.com/news/manufacturing-and-distribution/10669-madera-co-industrial-vacancies-hard-to-find 

For further information on Fresno Real Estate check: http://www.londonproperties.com