Western Real Estate Business

SEP 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

Issue link: https://westernrealestatebusiness.epubxp.com/i/1027244

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Page 16 of 82

C A L I F O R N I A 14 • September 2018 • Western Real Estate Business www.REBusinessOnline.com TRAMMELL CROW, CLARION PARTNERS BEGIN CONSTRUCTION OF 54-ACRE BUSINESS PARK SANTA CLARITA, CALIF. — Tram- mell Crow Co. and Clarion Partners have started vertical construction on the first phase of The Center at Need- ham Ranch. The 54-acre business park is the first phase of a larger, 132-acre, fully entitled site with approvals for up to 4.2 million square feet of indus- trial and commercial space. Phase I of The Center at Needham Ranch will comprise an 869,760-square-foot, seven-building industrial park, offer- ing Class A buildings ranging in size from 34,270 square feet to 209,559 square feet. Scheduled for occupancy in the first quarter of 2019, the first buildings of Phase I will feature 30- foot to 36-foot interior clear heights with ESFR fire sprinklers, abundant dock-high loading with large truck courts and yard areas, and abun- dant vehicle parking with capacity for above-standard parking counts. The project is located at the southern entrance of the City of Santa Clarita, along Sierra Highway and Highway 14, south of Newhall Avenue and one mile from the intersection of Interstate 5 and Highway 14. The project team includes Oltman's Construction Co., HPA Inc. and Alliance Land Planning & Engineering. CBRE's Craig Peters and Doug Sonderegger are leasing agents for the property. LION REAL ESTATE RECEIVES $35 MILLION IN FINANCING FOR NEWLY COMPLETED APARTMENT BUILDING LOS ANGELES — Lion Real Estate Group has received $35 million in fi- nancing for EastView Apartments, a newly constructed Class A multifam- ily property located at 327 N. Boylston St. near downtown Los Angeles. Marc Schillinger and Peter Berges of HFF arranged the 12-year, fixed-rate loan with an insurance company for the borrower. The property features 121 units in a mix of studio, one- and two-bedroom layouts, ranging from 555 square feet to 1,267 square feet. On-site amenities include a fifth-floor sky deck with fire pit, grills and din- ing tables; co-working lounge with re- freshment bar and large-screen televi- sion; swimming pool with hot tub and lounge; fitness center; secured park- ing; bike share program; and electric car charging stations. TORTILLA MAKER PURCHASES BAKERY, PLANS $25 MILLION RETROFIT ELK GROVE, CALIF. — Mi Rancho, a California-based tortilla maker, has acquired the former Bimbo Bakeries property, located at 10115 Iron Rock Way in Elk Grove, a southern suburb of Sacramento. An undisclosed seller sold the property for $8.1 million. San Leandro-based Mi Rancho plans to invest $25 million to retrofit the facility to Safe Quality Food Institute standards. The company's expansion plans include state-of-the-art manu- facturing operations to support its growing business. Mi Rancho plans to commence local operations within the next 90 days and fully retrofit and oc- cupy the building within 24 months. When fully operational, the company will employ approximately 250 peo- ple in Elk Grove. RETAIL Hesperia, could be the perfect fit r your business, because, Quite Simpl, Hesperia Works for Business. • Pro-business Southern California community • 17 miles of 'eeway 'ontage ripe for development • Interstate 15 daily traffic counts: 202,000 • Huge selection of prime sites C1ty Ob espe1a Rod Yahnke, EDFP econdev@cityo&esperia.us • A City Council committed to commerce • Trade area population: 269,000 • Average household income: $62,000 • Retail Potential $2.5 billion To learn more about how Hesperia can work for you, visit cityofhesperia.us/econdev The first phase of The Center at Needham Ranch in Santa Clarita will be an 869,760-square-foot, seven-building industrial park.

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