The New Look of Class-A Industrial

Trammell Crow Co. and Clarion Partners have teamed up to develop a new class-A mega industrial center in Santa Clarita, and it is embodies the new look of class-A industrial. The Center at Needham Ranch has up to 36-foot clear-heights, landscaping for a park-like atmosphere and expansive truck yards. The Project sits on 132 acres and is entitled for 4.2 million square feet of class-A industrial space. Already in mid construction, the project is scheduled for delivery in late 2018.

“The project is the first phase of a larger 132-acre, fully entitled site approved for up to 4.2 million square feet of space,” John Balestra, SVP at Trammell Crow Co., tells GlobeSt.com. “Work on Phase 1 is already underway  and expected to begin deliveries during the Q3 2018. Phase 1 of The Center at Needham Ranch will comprise of an 869,760-square-foot, 7-building Class A industrial park offering buildings ranging from 34,270-to-210,560 square feet, situated in a unique natural park-like setting with direct  access to abundant permanent open space.  The state-of-the-art buildings will feature 30-to-36-foot clear heights with ESFR fire sprinklers, abundant dock high loading and large truck courts and yard areas. Plans for Phase 2 are underway to include additional speculative industrial space and build-to-suit sites for industrial, office and research and development facilities up to 400,000 square feet.”

Although delivery is still more than a year out, TCC and Clarion have already gotten interest from perspective tenants, an illustration of the demand for quality class-A industrial space in Los Angeles. “Given the extreme scarcity of modern, highly functional Class A  industrial space in the entire Los Angeles Basin and in particular the Los Angeles North market, occupiers are expanding their geographical search parameters and beginning to look for new space in advance of their need for it,” says Balestra. “There are a variety of companies currently located in the Santa Clarita Valley as well as in the Los Angeles market that are expressing interest in The Center at Needham Ranch, in part because of the many advantages to businesses operating in the City of Santa Clarita, including a lower cost of doing business, a tax incentive credit program, film and television production credits, and research and development tax credits along with a highly responsive pro-business environment and high quality of life. We are excited to deliver a best-in-class project to the City of Santa Clarita community, which at full build out will create thousands of employment opportunities for local residents in the Santa Clarita and Antelope Valleys otherwise having to endure a long commute into Los Angeles for employment.”

TCC and Clarion have formed a joint venture to develop several industrial projects throughout the nation, with Clarion serving as the capital partner. “The Center at Needham Ranch is one of several projects launched as part of the national industrial development program established by the TCC/Clarion Partners venture,” Balestra explains. “The program is focused on the development of new Class A, industrial buildings in targeted markets throughout the United States. Since 2001, Trammell Crow Company and Clarion Partners have partnered together on over 105 developments totaling more than 32 million square feet and $2.2 billion in investment.”