(Victorville)–In a sign that the High Desert is attracting businesses and commercial investment, Lee and Associates recently assisted in the sale of the FedEx Building on Industrial Blvd., The High Desert Headquarters of FedEx sold to Yocom-Baldwin Development for $1 Million Dollars in fewer than 45 days. CoStar Power Brokers Elizabeth Brown and Donald P. Brown were listing agents on the property located at 12212 Industrial Blvd. The two-story building, built in 1986, is over 22,000 square feet and sits on 1.21 acres. Fed Ex is the major tenant of the building; having moved into the space in 1986 soon after it was built. FedEx recently expanded into additional space to accommodate the growing demand for their services in the region and occupy approximately 90% of the building.
According to the Economic and Workforce Development Regional Labor Market Profile for the Inland Empire, transportation and warehousing industries account for about 87,000 jobs in the region with a projected growth rate of 11% between 2011 and 2014.
Don Brown and Elizabeth Brown have recently sold 5 Industrial properties in the last 60 days and have seen a noticeable increase in demand for investment and owner occupied properties since the beginning of the year. The team has been building the name and reputation of the local Lee & Associates firm in brokerage, transaction coordination and property management for over a decade, working with clients selling, leasing or purchasing manufacturing plants, bulk warehouse/distribution facilities, mixed-use projects, multi-tenant buildings and land development.
“We are happy to have been able to assist with the transaction with Yocom-Baldwin Development,” stated President and Broker Donald P. Brown. “While some are still skeptical of the economy, the continued growth in the commercial real estate sector and the sustained interest in obtaining affordably priced investment properties in our community is a positive indicator for the future of the region.”