Wonderful Real Estate Sells 1M SF Industrial Facility and 120 Acres at Shafter Logistics Hub

Wonderful Real Estate, a division of The Wonderful Co., recently executed substantial deals at its 1,700-acre Wonderful Logistics Center in Shafter, California, located just north of Bakersfield. The firm divested a 1M SF industrial facility to an undisclosed global technology and e-commerce company, marking the buyer's third property at the site and expanding its total footprint to nearly 5M SF. This sale underscores the continued expansion of major online retailers in the region.

Additionally, Wonderful Real Estate sold 100 acres to tire manufacturer Michelin, which plans to develop over 1.6M SF across three new warehouses and distribution facilities. RLCold, a cold storage developer, acquired another 20 acres for a 317K SF cold storage facility, slated for long-term lease to dairy producer Lactalis to serve as its new western region distribution hub.

These investments, alongside recent leases by a UK-based food and beverage conglomerate and Ross Dress For Less, which is expanding its presence to over 3.6M SF, affirm the Central Valley's strategic importance. With more than 17M SF of industrial space already committed and an additional 40M SF planned, the Wonderful Logistics Center continues to attract major operations, despite a 9.5% industrial vacancy rate in the Bakersfield area, as reported by Colliers. This activity signals robust demand for large-scale logistics and distribution infrastructure in Central California.