Photo courtesy of CapRock Partners

CapRock Partners has fully leased the first building at its CapRock Central Point III industrial development in Visalia, marking one of the largest industrial lease transactions completed in California’s Central Valley in recent years.

The 1,270,750-square-foot Class A logistics facility at 4001 N. Plaza Drive was leased to an undisclosed global corporate tenant. Financial terms of the transaction were not disclosed.

The building is the first of four planned structures totaling 2.7 million square feet at CapRock Central Point III, which is part of the company’s larger 5 million-square-foot, LEED-certified Central Point master-planned industrial campus.

“Today’s occupiers are looking for strategic locations that can help them move faster, operate more efficiently and scale with confidence,” Monique Snowden, CapRock’s vice president of asset management, said in a statement.

The cross-dock facility spans approximately 75 acres and includes 40-foot clear heights, 274 dock-high doors, two ground-level doors, about 6,600 square feet of office space, 890 vehicle parking spaces and 542 trailer parking stalls.

Located near State Route 99 with access to Interstate 5 and Interstate 80, the site provides one-day ground shipping access to more than 50 million consumers, according to CapRock.

The lease was brokered by JLL’s Mike Fowler, Mike McCrary and Mac Hewett.

CapRock said the agreement reflects continued demand for large-scale distribution space in the Central Valley, where companies are seeking lower operating costs and access to West Coast markets. The Newport Beach-based developer now owns about 3.5 million square feet of industrial space in the Central Valley and plans additional phases at Central Point.