CBRE reports the amount of U.S. warehouse space absorbed by tenants through the first nine months of 2020 equaled the entire amount of space occupied in 2019. Moreover, Colliers reported there was 165 million square feet of positive net absorption of industrial space in the third quarter last year, and the national vacancy rate of 5.6 percent was roughly on par with where it was a year earlier.

This robust industrial activity is evident in Wonderful Real Estate Development’s two projects in Wonderful Industrial Park in Shafter. One is the 20,000-square-foot privately operated vocational training center, which is available to tenants in the park. This facility is the first of its kind for a logistics park and offers companies the ability to provide custom training. The training center is part of a larger 98,000-square-foot mixed-use development that includes offices, restaurant space and a wellness center.

In the second project, Wonderful will break ground soon on a speculative development, 3800 Fanucchi Way on a 70-acre site. This project will feature 1.06 million square feet, 40 feet of clear height, 215-dock high doors, and parking expandable to 1,000 stalls to accommodate trailers and employee spaces. The building will be delivered in the fourth quarter 2021.