Business

Fresno's commercial real estate industry sees boost

Thursday, February 21, 2013

New construction at a Fresno business park serves as an encouraging sign for the commercial real estate industry.

The new warehouse will need to fill dozens of jobs. But the company has not yet begun the recruiting process to fill those positions.

The sight of tractors moving dirt is a sign the commercial real estate market is starting to move in the right direction.

Ground has broken on a 96,000 square foot distribution warehouse in south Fresno.

Ethan Smith of Grubb & Ellis Pearson Commercial says The warehouse will cost over $4 million to build.

Smith said, "It's the first building that we've actually seen under construction that that's large since about 2008."

Staples and WHCC are among the companies which have been moving products out of the North Pointe Business Park.

Smith says an East Coast manufacturing company has committed to occupying half of the new warehouse, though it does not want to be identified at this point.

"They will actually start shipping their product late fall 2013," said Smith. "It will all be brand new jobs to the area so somewhere in the area of 30-50 jobs, pretty well paying jobs."

Blake Konczal of the Workforce Investment Board says every new job helps. He's glad to see another company understands the value in having a centralized hub in Fresno.

Konczal explained, "For purposes of logistics or transportation we're parts of a huge networks that go through California and other states so in that regard we are very lucky where we are placed."

The new warehouse is expected to be complete by the end of the summer.

When the companies start to list the various positions it wants to fill, we will let you know how to apply.

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fresno, fresno county, economy, employment, business, dale yurong
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