Friday, August 31, 2018
Wednesday, August 29, 2018
SHAFTER, Calif., Aug. 29, 2018 (GLOBE NEWSWIRE) -- Wonderful Real Estate announced that it has negotiated a lease with Ross Stores, INC (Ross) for 1,003,071 square feet of industrial space at 4100 Express Avenue in Wonderful Industrial Park (WIP), a fully-entitled 1,625-acre, world-class distribution center located in Shafter, California.
Wonderful Industrial Park is a rail-served industrial development entitled for 26 million square feet and currently has 7.6 million square feet of completed buildings. Shafter is 18 miles north of Bakersfield on CA-99 and about 20 minutes to Interstate 5 in California’s Central Valley.
“We are very pleased that Ross chose Wonderful Industrial Park for its expansion. They have enjoyed success here, as have other retailers, manufacturing and distribution companies because of the ready access to a dependable labor pool living within minutes of the park. Further, occupants of WIP have benefitted by having exceptionally large trailer and equipment parking space that has increased the efficiency of importing goods from the Ports of Los Angeles and Long Beach,” said Joe Vargas, President of Wonderful Real Estate Development.
The industrial park’s location allows access to 14 percent of the U.S. population within 300 miles and same-day delivery to 30 million Californians. It has a FedEx Ground hub onsite and a UPS ground hub in Bakersfield, CA with Meadows Field Airport located only seven miles away.
Ross has been an occupant of Wonderful Industrial Park since 2014 and currently owns a 1.7 million square foot distribution center located near 4100 Express Avenue. WIP is also home to corporate industrial users including Target, American Tire Distributors, Essendant, DMSI, MRC Global, and Formica. The park features an onsite rail yard with more than 17,000 feet of track to accommodate unit trains with direct access to Burlington Northern Santa Fe (BNSF) Railway’s mainline.
The Wonderful Company develops, manages and invests in a diversified portfolio of real estate, with a particular focus on office and industrial properties. Wonderful Real Estate and its affiliates have invested almost $2 billion since 2008 for commercial real estate development, facility improvements, processing equipment and real estate acquisitions.
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