Developers of The Center at Needham Ranch announced Thursday they have officially broken ground on another phase of the project, which will execute the building of three Class A industrial facilities.
“We are pleased to begin the second subphase of this long-anticipated state-of-the-art industrial park,” John Balestra, principal with developer Trammell Crow Co. (TCC) SoCal – Los Angeles Business Unit, said in a prepared statement.
Phase 1B is a 54-acre business park within the 132-acre industrial project site on Sierra Highway near Old Town Newhall. This subphase will be comprised of Buildings 4 through 6, totaling more than 417,000 square feet and reaching minimum clear heights of 30 and 36 feet tall. Each facility will have features such as a 120-foot minimum truck court depth, office space, secure yard areas and extensive vehicle parking.
As Phase 1B takes off, buildings under Phase 1A are well underway and are generating significant leasing interest, according to Balestra. TCC and partnering developers Clarion Parnters, LLC announced in May that Illumination Dynamics closed a leasing deal as Needham Ranch’s very first tenant.
Nicole Welch, senior vice president with Clarion Partners, added, “We are seeing very strong interest from a wide range of companies that are responding very favorably to the significant operational efficiencies that these modern, highly functional state-of-the-art facilities offer, with limited availability for true Class A industrial space in the greater Los Angeles North market.”
The project’s specific location has also attracted the interest of many potential tenants as it is “ideally situated for ‘last mile’ and regional distribution, studio and entertainment uses, manufacturing, research and development and corporate office uses,” according to a statement by Craig Peters of CBRE, the project leasing agent.
Developers estimate construction of Phase 1B to be completed by the end of the year.