The recently completed OURtelligence report shows more than 29.7 million sf of office, industrial and commercial space in the High Desert, consisting of nearly 13.2 million sf of retail, 12.5 million sf of industrial and 4 million sf of office space. As reported earlier on GlobeSt.com, the report is the most comprehensive study of commercial space ever completed for the High Desert. Susan Bloomfield, president of OURtelligence, says it includes "information on every single retail, office and industrial building in the High Desert." She says that investors working with The Bradco Cos. have asked for very specific data so that they can move forward with commercial development projects.
Brady, who is the founder and president of Bradco Cos., says commercial development has been slowly working its way up to the High Desert, but "Building speculatively without an accurate picture of market conditions in the High Desert is a difficult thing to justify and pre-leasing space before construction completion isn't something this area is known for," says Brady, who Brady, who has long been prominent in High Desert real estate and economic development activities. Brady says he expects to see an increase of speculative projects in the region, which is drawing interest from national as well as local and regional firms.
The OURtelligence report tracks space in the cities of Adelanto, Apple Valley, Barstow, Hesperia and Victorville, as well as unincorporated areas and the Southern California Logistics Airport.
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