|
|
10/17/22
|
Vertical construction on the final subphase of development at the Center at Needham Ranch (CANR) in Santa Clarita is underway. The Center at Needham Ranch is being developed by a joint venture between Trammell Crow Company and Clarion Partners.
The final phase of the project’s development pipeline includes 391.6k sf of speculative industrial space across three buildings. It also includes a 278.7k sf build-to-suit (BTS), cross-dock facility for a global ecommerce tenant. Construction on the final phase is slated to be completed by year-end 2023.
In addition to the BTS facility, the final subphase at CANR includes the construction of three hyper-functional industrial buildings and one fully improved ancillary parking lot:
• Building 14 will include 198.5k sf of logistics space. The facility has been pre-leased by DrinkPAK, an alcoholic and non-alcoholic beverage manufacturer, which currently occupies 172.3k sf in Building 2 and 400.1k sf in Buildings 3 and 4 at CANR.
• Building 17 will include 107.4k sf of speculative logistics space.
• Building 18 will include 85.8k sf of speculative logistics space.
• Parking Lot 16 will include a 3.3-acre paved lot and fenced parking lot for auto and trailer parking.
According to John Balestra, Principal with TCC Los Angeles, the Los Angeles North submarket continues to have record vacancy due to significant barriers to entry. The Center at Needham Ranch is ideally located to capture the growing demand from tenants, which has remained strong based on a diverse range of occupiers who are active in the Los Angeles North market.
DrinkPAK will now occupy 770k sf at CANR after recently preleasing Building 14 and the adjacent 3.3-acre trailer lot, which marks one of the largest food and beverage transitions in Los Angeles history. Patrick DuRoss, John DeGrinis and Jeff Abraham of Newmark assisted DrinkPAK in three separate transactions over the past two years.
In addition to DrinkPAK, current tenants at CANR include LA North Studios, which leased 113.6k sf in Building 5 for a satellite soundstage, and Illumination Dynamics, which leased 67.6k sf at the development’s first completed building.
This final phase of TCC’s development pipeline is part of the larger CANR development, which spans 250 acres and includes 1.9 msf of Class A industrial space. The entire CANR development is expected to be complete in Q4 2023.
Consistent with earlier phases, the general contractor for the project is Oltman’s Construction Co, the architect is HPA Inc and the civil engineer is Alliance Land Planning & Engineering. CBRE’s Craig Peters, Doug Sonderegger and Cameron Merrill are the leasing agents for the property. Construction financing is being provided by Comerica Bank and Citizens Bank.
CANR is adjacent to the San Fernando Valley, approximately one mile north of Interstate 5 and adjacent to Highway 14, providing immediate access to the greater Los Angeles region with more than five million people within a 30-minute commute. Situated at the southern entrance to the City of Santa Clarita, the CANR is ideally positioned for a breadth of uses, including but not limited to last-mile and regional distribution, studio and entertainment, manufacturing, research and development, and corporate offices.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
