Trammell Crow Company (TCC) and Clarion Partners, LLC announce that Building 3 of The Center at Needham Ranch has officially gone vertical, with the raising of the walls now underway, and that it will also soon be commencing construction of the final three buildings in the first phase of the project.
Building 3 of The Center at Needham Ranch is comprised of an approximately 212,236 square-foot concrete tilt-up industrial building situated on a 12.2-acre parcel fronting along Sierra Highway, overlooking the 14 Freeway at Newhall Avenue, one mile north from Interstate 5. Featuring 36-foot interior clear height, ESFR fire sprinklers, 21 dock high loading positions and up to 300 vehicle parking spaces, the building is expected to be ready for occupancy in early 4Q 2019.
The Center at Needham Ranch Phase 1 is an approximately 900,000 square foot Class A industrial park, which offers buildings ranging from approximately 67,639 to-212,236 square feet on a 52 net-acre site. State-of-the-art features in all the buildings in the project include: 30-to-36-foot interior clear heights with ESFR fire sprinklers, abundant dock high loading with large truck courts and yard areas, attractive architectural design featuring extensive use of glass, and abundant vehicle parking with capacity for above standard parking counts.
“We have reached a significant milestone with the raising of the walls on our third building in the first subphase of this project,” said John Balestra, Principal with TCC’s SoCal – Los Angeles Business Unit. “Based on robust occupier interest, we have given the green light to commence construction of the final three buildings in Phase 1 of the project.”
Construction will commence on the final l buildings in Phase 1 comprised of three Class A industrial buildings of 97,357 square feet, 126,439 square feet and 194,188 square feet with up to 3.5/1000 car parking to accommodate manufacturing, corporate headquarters, research and development and last mile fulfillment uses and will be ready for occupancy in early 1Q 2020.
“This project has completely transformed this important site for the City of Santa Clarita and we, along with our partner Clarion Partners, are pleased to be a part of delivering the first phase of this first-class business park,” added Phil Tsui, Vice President with TCC’s SoCal – Los Angeles Business Unit.
“With a record low vacancy rate of 1.3% in the greater Los Angeles industrial market, there is scarce availability of modern highly functional space to meet the needs of companies desiring best in class facilities” said Craig Peters, Executive Vice President with CBRE based in Glendale, CA, the project leasing agent. “Occupier interest in the project has been very robust, given our convenient location less than five miles from the intersection of Interstate 5 and the 405 Freeway. We will soon be making some announcements of pending transactions in the project that will create additional local employment opportunities for area residents.”
The Center at Needham Ranch is a master-planned, 132 net-acre industrial development located immediately adjacent to the San Fernando Valley approximately one mile north of Interstate 5 adjacent to Highway 14, providing immediate access to the San Fernando Valley and greater Los Angeles region with more than 5 million people within a 30-minute commute. Sitting at the southern entrance to the City of Santa Clarita, the development is ideally situated for “last mile” and regional distribution, studio and entertainment uses, manufacturing, research and development and corporate office uses.