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8/15/22
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Transwestern Investment Group (TIG) has acquired 4.6 acres in the Palmdale/Lancaster submarket of North Los Angeles, and is partnering with Transwestern Development Company (TDC®) to build a 99.8k sf industrial property on the site. Construction is scheduled to begin in March 2023 with delivery anticipated in the first quarter of 2024.
“Industrial vacancy in Greater Los Angeles is less than 1.0% as of the first quarter, and even tighter in the Antelope Valley region,” said Mike McKenzie, Director of Acquisitions for TIG. “This facility will satisfy the needs of an owner/user or tenant that wants the convenience of connectivity to Los Angeles, but at a greater value than the fully occupied San Fernando and Santa Clarita Valley markets.”
Legacy Lane will be situated east of the 14 Fwy and just south of Palmdale Regional Airport. Property features include 32-foot clear height, 15 dock doors, an ESFR sprinkler system, office space and a 90/1000 parking ratio. The site is under five acres, which qualifies the project for a California Environmental Quality Act (CEQA) exemption.
“There is virtually no availability in the Greater Los Angeles area and the Inland Empire market is also nearing full occupancy,” said Steve Batcheller, West Regional Partner for TDC. “The CEQA exemption limits the scope of entitlement requirements, which will enable us to bring this facility to market quickly.”
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