The Center at Needham Ranch
1,700,000 square feet of hyper-functional Class A logistics space across 11 buildings.
Location
Product Type
Timeline
Project Completion – Q1 2024
Overview
The Center at Needham Ranch (“CANR”), developed in partnership with Clarion Partners, is a 250-gross acre project located in Santa Clarita, California. Strategically located one mile north of Interstate 5 and adjacent to Highway 14, CANR provides immediate access to the greater Los Angeles region with more than five million people within a 30-minute commute. TCC, alongside a phenomenal team of consultants, re-abandoned 15 oil wells and associated underground pipes, performed over 10 million cubic yards of grading, without export, and routed miles of wet and dry utility infrastructure. In 2024, after 7 years, TCC ultimately delivered 1,700,000 square feet of hyper-functional Class A logistics space across 11 buildings. 1,300,000 square feet of CANR was pre-leased at rents 75% above initial go-vertical proforma.
One of the “Big Wins” for CANR, was consolidating three proposed Class A industrial buildings into one 278,670 square foot, low-coverage, build-to-suit for a large national e-commerce company headquartered in Seattle, WA. TCC revised its fully designed grading plan to accommodate the last-minute requirement and was able to structure a long-term lease well above proforma rents. Due to the COVID-19 pandemic, there were significant impediments to delivery of all the buildings. However, TCC was able to successfully navigate substantial supply chain disruptions, political and legal challenges, and deliver the buildings under-budget and on time. CANR has created significant direct and indirect fiscal and economic benefit for the City of Santa Clarita and Los Angeles County. Between both phases, there were over 1,800 jobs created in the city, and just under 3,000 in the County. Approximately $345M of annual Countywide economic output can be traced back to the CANR. There are also over 1,000 direct, on-site jobs at CANR.
