Trammell Crow Company (TCC) and Clarion Partners, LLC announced Thursday that construction has commenced on Phase 1B of The Center at Needham Ranch, a 54-acre business park that sits on a 132-acre, fully entitled site in Newhall. Construction is scheduled to complete by the end of 2019.
Phase 1B of The Center at Needham Ranch will comprise three Class A industrial buildings totaling 417,984 square feet. Building 4 will comprise 194,188 square feet, Building 5 comprised of 126,439 square feet and Building 6 will feature 97,357 square feet. Building 4 and 5 are 36’ minimum clear height and Building 6 is 30’ minimum clear height. Each building will have 120’ minimum truck court depth, ESFR fire sprinklers, abundant dock high loading with large truck courts and secure yard areas in addition to attractive architectural design featuring extensive use of glass and abundant vehicle parking with capacity for above standard parking counts. Office space can be customized to suit.
“We are pleased to begin the second subphase of this long anticipated state-of-the art industrial park,” said John Balestra, Principal with TCC’s SoCal – Los Angeles Business Unit. “Leasing activity and interest is very robust with our first three Phase 1A buildings that total 451,540 square feet nearing completion this summer, as prospective tenants are drawn to our strategic location immediately adjacent to the San Fernando Valley, convenient access to over 5 million people within a 30 minute drive, and the significantly lower cost of doing business in the City of Santa Clarita compared to other jurisdictions across the Los Angeles North region.”
“We are seeing very strong interest from a wide range of companies that are responding very favorably to the significant operational efficiencies that these modern, highly functional state-of-the-art facilities offer, with limited availability for true Class A industrial space in the greater Los Angeles North market,” added Nicole Welch, Senior Vice President with Clarion Partners, LLC. “The project also boasts a unique park-like environment with tremendous freeway identity and breathtaking views due to the abundant natural open space that surrounds it.”
“We are excited to be delivering additional buildings, and occupiers are responding with great enthusiasm to our highly strategic close-in location compared to other areas in the LA North region,” stated Craig Peters of CBRE, the project leasing agent. “We are finding that the building’s location advantage, coupled with the clear height advantage, are of significance to companies looking for space in the region. Furthermore, the business-focused City of Santa Clarita and live-work-play environment in the area are key in allowing businesses to operate at maximum productivity and attract and retain top talent. The development is ideally situated for “last mile” and regional distribution, studio and entertainment uses, manufacturing, research and development and corporate office uses.”
The Center at Needham Ranch is located one mile north of the City of Los Angeles boundary and at the southern entrance to the City of Santa Clarita. The development fronts Sierra Highway and just south of Newhall Avenue and is less than one mile from the intersection of Interstate 5 and Highway 14. Offering the important reverse commute advantage, the Center is less than 15 minutes to Burbank Airport and directly links to all areas within the San Fernando Valley and Greater Los Angeles County population centers and is easily accessible from numerous major highways including the 14, 5, 405, 210, 118 and 126. In addition, many restaurant and retail amenities are in proximity to the Old Town Newhall area including the Newhall Metrolink Station.
The General Contractor is Oltman’s Construction Co., the architect is HPA, Inc. and the civil engineer is Alliance Land Planning & Engineering. CBRE’s Craig Peters and Doug Sonderegger are the leasing agents for the property.
About Clarion Partners
Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With approximately $50 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its 350+ domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of March 31, 2019, TCC had $9.7 billion of projects in process and $2.8 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 17 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2018 revenue). For more information visit www.trammellcrow.com.