Commercial real estate developer Trammell Crow Co. and real estate investment manager Clarion Partners have announced that vertical construction has commenced on phase one 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 commercial space.
“We are pleased to officially begin execution of vertical construction with our partner Clarion, delivering on the long-anticipated vision for this unique project,” Trammell Crow Senior Vice President John Balestra said in a statement.
Phase one will be comprised of an 869,760-square-foot, seven-building industrial park, featuring buildings from 34,270 to 209,559 square feet. The initial buildings in Phase I are scheduled for occupancy in the first quarter of 2019.
The developers are touting the complex’s commuting readiness. The Center at Needham Ranch is located at the southern entrance to Santa Clarita, along Sierra Highway and Highway 14, south of Newhall Avenue and one mile from where Interstate 5 and Highway 14 intersect. In addition to freeway access, the Newhall Metrolink Station is located in close proximity to the site.