54-Acre Phase 1 of 132-acre Business Park to include Seven Buildings, Spanning 869,760 Square Feet
Trammell Crow Company (TCC) and Clarion Partners, LLC today announced that vertical construction has commenced on Phase 1 of The Center at Needham Ranch, a 54-acre business park that is the first phase of a larger 132-acre, fully entitled site with approvals for up to 4.2 million square feet of industrial/commercial space.
Phase 1 of The Center at Needham Ranch will be comprised of an 869,760-square-foot, 7-building Class A industrial park, offering buildings ranging from 34,270-to-209,559 square feet. The initial buildings in Phase I are scheduled for occupancy in 1Q2019 and will feature state of the art Class A features including 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.
The City of Santa Clarita and the master developer have set aside hundreds of acres of natural open space immediately adjacent to the project, with an extensive hiking trail network to be integrated into the project, creating a unique natural park like setting with densely landscaped open space.
The Center at Needham Ranch is located at the southern entrance to the City of Santa Clarita, along Sierra Highway and Highway 14, south of Newhall Avenue and one mile from the intersection of Interstate 5 and Highway 14. The project location 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, Metrolink access is available via the Newhall Metrolink Station in close proximity.
Michael Marrone, Vice President at Clarion Partners, stated, “The City of Santa Clarita is rated as one of the best places in the U.S. to live, work and play with a low cost of doing business and a high quality of life. The City of Santa Clarita is the third largest city in Los Angeles County and has experienced significant growth since its incorporation in 1987. During this time, however, it has had negligible industrial development and the Center at Needham Ranch was envisioned by City leaders as a way to increase local employment opportunities for area residents to address the regional jobs/housing imbalance that contribute to growing traffic congestion.”
“We are pleased to officially begin execution of vertical construction with our partner Clarion, delivering on the long anticipated vision for this unique project which dates back to the year 2000, ” said John Balestra, Senior Vice President with TCC’s SoCal – Los Angeles Business Unit. “Given the scarcity of modern, highly functional industrial space in the greater Los Angeles North market, where the average industrial building is over forty years old and lacks the enhanced functional utility of today’s modern industrial facilities, The Center at Needham Ranch will give small and large space users access to a premier location with immediate proximity to the San Fernando Valley and Greater Southern California region, with over 5.3 million people within 30 miles of the site”.
“We are delivering best-in-class, highly functional state-of-the-art industrial facilities with up to 36-foot interior clear height, coveted by media and entertainment, manufacturing, warehousing and logistics/last mile distribution space users,” said Craig Peters, Executive Vice President with CBRE. “We have already received a significant level of interest from potential occupiers well before commencing vertical construction, validation that the City of Santa Clarita offers a highly advantageous low-cost business environment and the project location immediately adjacent to the 14 freeway, minutes from the San Fernando Valley, provides a reverse commute advantage with a strategic location in close proximity to the population centers of the San Fernando and Antelope Valley’s and Greater Los Angeles market.”
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 offices in key markets throughout the United States and in London, England. With more than $45.6 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 300 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of March 31, 2023, TCC had $17.3 billion of projects in process and $13.1 billion in its pipeline. It employs 700 professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.