Hesperia poised for commercial real estate boom, Brady tells Chamber crowd

While Hesperia's residential real estate market continues to soften, the commercial market is set to blast off, according to Victor Valley real estate expert Joseph Brady.

"It [Hesperia] is contending very well for a commercial boom," Brady said during a presentation last Monday at the Hesperia Chamber of Commerce?s monthly luncheon.

Brady, who owns the Victorville-based Bradco Companies, believes the City of Hesperia has the players in place to help attract new commercial and industrial projects, specificially complimenting City Manager Mike Podegracz and Economic Development Director Steve Lantsberger.

"You've really got a great team now," Brady said.

Brady, who recently commissioned an extensive $175,000 real estate study of the Victor Valley, believes the region will see a dramatic increase industrial activity, which typically follows residential and commercial booms.

"The next thing you're going to see is the industrial market. You're going to see some big players."

According to Brady?s data -- his staff developed a complete inventory of available industrial space throughout the valley -- Hesperia has three expansive redevelopment areas that encompass 26,000 acres with thee City and include two primary industrial corridors. About 1,329 acres are incorporated in the I Avenue industrial area. Also, Hesperia has 1,032 acres zoned for commercial and industrial developing in two redevelopment project areas.

One of the keys to the area?s prosperity, according to Brady, is improving the I-15 freeway traffic flow. The I-15 at Sierra Avenue, which currently has a flow of about 9,000 cars per hour, will see a steady increase in the number of cars, he said as an example.

But freeway and major arterial improvements don't come cheap.

"The cost of these projects have gone absolutely through the roof."

Support of Measure I, the 1/2-cent sales tax which helps fund freeway and road improvements and construction, is imperative, Brady said.

In the meantime, attracting industry to Hesperia and other parts of the Victor Valley helps by offering alternatives to commuting.

"We're pushing to bring industry up here so people don't have to commute. I'm personally very concerned about it."

Despite the pending commercial real estate boom, he believes some commercial properties are priced above what the market is willing to pay. One commercial center owner was having difficulty filling space at $4 per square foot, he noted.

"We?re starting to see price resistance. This is not West L.A."