LNR Develops 200,000-SF Office Project

VALENCIA, CA-LNR Property Corp.’s Commercial Property Group has started construction on the class A Entrada Gateway Center, a 200,000-sf office campus in this L.A. suburb. The project will consist of two four-story steel frame buildings on a nine-acre site overlooking Interstate 5, with immediate access to the freeway as well as signage that will be visible to more than 300,000 cars daily.

According to Ken O’Neill, vice president of LNR Property Corp., the project has been designed to appeal to users seeking high-image corporate space, and several large corporate tenants are in negotiations to lease space on the campus. LNR has named Douglas Marlow and David Solomon of CB Richard Ellis as the brokers of record for the project, which is scheduled for completion in the third quarter of this year.

The company’s Entrada Gateway Center will provide surface parking and is being designed with large, column-free floor plates for the “maximum flexibility demanded by tenants in today’s marketplace,” according to LNR. One of the design features of the buildings will be a high-performance curtain wall and window design, which maximizes the availability of natural light while still achieving energy efficiency beyond that required by California’s strict energy codes, according to the developer.

The LNR Commercial Property Group’s Valencia project underscores the growing popularity of the Santa Clarita Valley community as a location for corporate headquarters facilities. Late last year, for example, Mechanix Wear, a marketer of gloves used on the Nascar circuit, moved into a new 75,000-sf headquarters building on a five-acre site in Valencia.

Other office deals in the market in recent months have included conversions of single-tenant office buildings to multi-tenant use and the kickoff of construction for a 144,000-sf office project.