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A $22.2 million retail lease at Visalia’s Eastgate Plaza topped the Central Valley’s commercial real estate deals in 2025 — part of a year dominated by industrial warehouses and big-box retail as office properties were a nonfactor.

Industrial and retail properties dominated the Largest Commercial Real Estate Transactions list (see pages 8-9) in the Central Valley in 2025, according to the broker survey of transactions from Jan. 1 to Dec. 31.

Last year’s highest-dollar transaction was the $22.2 million retail lease signed by Vallarta Supermarkets at Eastgate Plaza in Visalia, which covers over 53,000 square feet.

The retail center at 600 S. Lovers Lane will have seven buildings that include the supermarket, two retail stores, a carwash, two drive-thru restaurants and one drive-thru coffee house. The new Vallarta store would be 53,000 square feet with one co-anchored store with 26,000 square feet.

Close behind Eastgate Plaza was a $22 million industrial lease at Riggin Avenue in Visalia, spanning over 202,000 square feet.

The two Visalia transactions highlight the Central Valley’s focus on large-format retail centers and industrial facilities.

Warehouse and industrial sales also were among 2025’s largest deals. A $21.5 million sale at 1467 E. Dinuba Ave. of the former Prima Wawona packinghouse in Reedley scaled more than 360,000 square feet, making it the largest industrial sale by area. Other large industrial transactions included a $9 million sale in Clovis and multiple leases in Visalia and Fresno over 100,000 square feet.

Retail leasing and sales continued to be active across Fresno and Tulare counties. Transactions included a $13.2 million lease on Blackstone Avenue in Fresno and a $9.9 million lease on Cesar Chavez Boulevard. Several retail sales ranging from $7 million to $5 million occurred in Fresno, Porterville, Bakersfield and Lemoore, showing continued turnover in established shopping corridors.

Office properties represented a smaller share of the year’s top transactions but remained present in higher-end submarkets. A $16.8 million office lease in north Fresno’s River Park ranked among the largest office deals, while a $6 million deal on Divisadero Street was another large sale.

Land sales appeared throughout the list, mainly in Fresno and Visalia.

Parcels ranging from around 10 to more than 40 acres traded at prices between $3 million and $7.2 million, indicating continued positioning for future development tied to industrial, retail and mixed-use projects.

Across the full ranking, industrial and retail properties accounted for the majority of total transaction value, both in sales and long-term leases. The largest deals tended to cluster in Fresno and Visalia, with additional high-dollar transactions in Reedley, Clovis, Porterville, Bakersfield and Madera.

In 2024, retail made up six out of the top ten most expensive transactions.