Industrial vacancies in Madera dropped this quarter to the lowest rate in three years thanks to the purchase of the former Gottschalks Distribution Center.
Harris Enterprise purchased the 460,000-square-foot former distribution center in Madera’s Airport Industrial Park near Airport Drive and Avenue 17 to house its almond operations.
The purchase helped drop the current industrial vacancy rate to 4.04 percent — down from 8.66 in the previous quarter and from 10.5 percent last year, according to a report from TK Consulting.
“We’ve had a lot of square footage absorbed by the market in the last six months, and this is both good and bad for Madera County,” said Bobby Kahn, executive director of the Madera County Economic Development Commission. “It’s a good sign because our buildings are full and that means our business community is healthy. But on the economic development side it creates a challenge for us because we don’t have a lot of existing properties to market to potential companies.” ...