Trammell Crow Company (TCC) and Clarion Partners, LLC announced Tuesday that construction has been completed on all three buildings in the phase 1A of The Center at Needham Ranch, which is part of the first phase of a larger 252 acre, fully entitled site in Santa Clarita.
“We are pleased to have completed the first subphase of this long anticipated state-of-the art industrial park, which provides 451,500 square feet of new Class A space,” said John Balestra, Principal with TCC’s SoCal – Los Angeles Business Unit. “This particular submarket of Los Angeles has an extremely limited supply of available industrial space, with a low 1.4% vacancy rate across the greater Los Angeles region. The Center at Needham Ranch will help meet the growing demand for high-end Class A industrial and logistics space in the area.”
Within phase 1, Building 2 is comprised of 172,324 square feet and Building 3 is 212,236 square feet. Each property features 36-foot minimum interior clear heights, ESFR fire sprinklers, abundant dock-high loading with large truck courts, and secure yard areas. Both buildings are ready for immediate occupancy, with open plan two-story office space that can be customized to suit.
“As one of the largest industrial development sites in all of Southern California, with approximately 122 acres of land, Phase 1 of The Center at Needham Ranch is providing high-quality Class A space to the San Fernando Valley and greater Los Angeles market, where new industrial supply is projected to be much less than estimated industrial space demand from 2021-2022. Los Angeles is one of the few markets in the entire country where supply constraints limit enough new industrial supply to be created,” Balestra added.
Philip Tsui, Senior Vice President with TCC’s SoCal – Los Angeles Business Unit stated that “the project provides occupiers with some of the best-in-class facilities in all of Southern California. We worked closely with our architect HPA, Inc. and the City of Santa Clarita to design architecturally distinctive image buildings that provide a high degree of functional utility and were designed to take advantage of the unique project setting, with visibility from the 14 Freeway surrounded by abundant natural open space.”
The attractive architectural design of the project features extensive use of glass with stone accents, extensive landscaping and abundant vehicle parking with capacity for above-standard parking counts.
“Leasing activity and interest is very robust with our first three Phase 1A buildings now complete. The Phase 1B buildings are rapidly finishing up construction as well, with occupancy slated for early 2Q 2020,” added Nicole Welch, Senior Vice President with Clarion Partners, LLC. “Our first occupant, Illumination Dynamics, has relocated from San Fernando and is in full operation of the 67,000-square-foot Building 1. Buildings 2 and 3 are now ready for immediate occupancy.”
Phase 1B of The Center at Needham Ranch is comprised of three additional Class A industrial buildings, totaling 417,984 square feet. This phase is slated for completion in April 2020. Building 4 will include 194,188 square feet, Building 5 is comprised of 126,439 square feet, and Building 6 will feature 97,357 square feet. Building 4 and 5 offer 36-foot minimum clear heights and Building 6 provides 30-foot minimum clear height.
“We are excited to be delivering the first buildings at this project and occupiers are responding with great enthusiasm to our highly strategic close-in location, minutes from the 405/5 freeways with tremendous access to all of Southern California,” stated Craig Peters of CBRE, the project’s leasing agent. “We are finding that the building’s location, with a favorable reverse commute and clear heights that provide approximately 20% more storage volume capacity than a typical lower clear height facility, are of significance to companies looking for highly functional cost-effective space in the region. Furthermore, the business-focused City of Santa Clarita and the growing 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 studio and entertainment industry uses, manufacturing, research and development and corporate office uses, as well as last-mile and regional distribution.”
The Center at Needham Ranch is located one mile north of the City of Los Angeles boundary at the southern entrance to the City of Santa Clarita. The development fronts on Sierra Highway just south of Newhall Avenue and is less than one mile from the intersection of Interstate 5 and Highway 14. 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 project including the flourishing Old Town Newhall area and 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 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 September 30, 2019, TCC had $10.9 billion of projects in process and $3.5 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. 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.