Presentation of the plans for the new business park
âSolterra Strategies coordinated an open house at Paso Robles Airport on Thursday to present Majestic Realty Company’s plans to acquire and develop the former El Paso de Robles youth correctional facility on Airport Road. Majestic Realty Company, the largest private industrial developer in the United States, is working with the City of Paso Robles to purchase the property for the State of California.
âMajestic acquires 140 acres from the state,â said Senior Vice President Taylor Talt. âWe worked in collaboration with the city of Paso Robles. It has been a great team effort. We will give right to 1.6 million square feet of development. This includes a variety of uses, including industrial storage in hotels, restaurants, retail stores, and offices. It will be a planned corporate business park.
Asked about a partnership with Amazon for a large distribution center, Talt said, “We don’t have any deals with anyone at this time.”
As for the buildings that stand on the property today, Talt says, âThis property has been unused for some time. It would be difficult to use the buildings that are there now, but we are looking at all the possibilities.
Talt says Majestic has about six months to conduct due diligence on the contract with the state. Then they hope to close the deal and immediately start working on the project.
During the presentation Thursday afternoon at Paso Robles Airport, various community leaders visited between 3:30 p.m. and 7:00 p.m., meeting with engineers, architects, business leaders and city officials. Experts have shown drawings of similar buildings they have constructed elsewhere. Stacie Jacob from Solterra said, âWe staged it throughout the day so we had a flow of people. About 150 people stopped to see the presentation.
As for the construction schedule, Talt says he hopes Majestic will be under construction next year, but says it’s very difficult to predict.