DrinkPAK Expands to Nearly 1 Million Square Feet at Fully Leased Industrial Park
Beverage manufacturer DrinkPAK has signed for an additional 193,000 square feet of Santa Clarita industrial space at the Center at Needham Ranch (CANR). The lease takes on space in the last two buildings available at the center, bringing DrinkPAK’s total occupied space to 965,000 square feet. The 1.7-million-square-foot industrial park is now fully leased and in its final construction phase ahead of an anticipated completion later this year.
A joint venture between Trammel Crow and Clarion Partners, the CNAR first broke ground in 2017 and includes 11 class A industrial buildings, plus four class A parking and outdoor lots spread across 250 acres. Located in the Santa Clarita Valley, the center is adjacent to the San Fernando Valley and approximately one mile north of Interstate 5 with direct access to the greater Los Angeles region.
Trammell Crow’s John Balestra said in a statement that the Center at Needham Ranch was developed to fill a growing need for Class A industrial space in the LA north submarket, which has witnessed record-low vacancy rates since construction began on the project six years ago.
DrinkPAK’s CEO, Nate Patena, said that the company had more than 500 employees and produced more than 2 billion cans annually, making its location at CANR the largest canned beverage contract manufacturing facility in the western U.S. With this latest lease, DrinkPAK will occupy Building 17 and 18 at CANR. The company previously pre-leased 198,451 square feet in Building 14, in addition to its lease of 172,324 square feet in Building 2 in October 2020, as well as 400,095 square feet in Buildings 3 and 4 in April 2021.
In addition to DrinkPAK, the finalized tenant roster at CANR includes LA North Studios — the soundstage specialist that leased 113,640 square feet in Building 5. Meanwhile, Illumination Dynamics — the development’s first tenant — occupies 67,600 square feet at Building 1.
Patrick DuRoss, John DeGrinis and Jeff Abraham of Newmark represented DrinkPAK. CBRE’s Craig Peters, Cameron Merrill and Doug Sonderegger are the center’s leasing agents.
Vacancy Rate in LA Industrial Market 4th-Lowest Nationally
A recent CommercialEdge report showed that, as of March, the Los Angeles market had recorded the fourth-lowest vacancy rate (2.3%) nationally. It was preceded by Columbus, Ohio (1.2%); Inland Empire, Calif. (1.7%); and Phoenix (2.0%). At the same time, the national industrial vacancy rate of 3.9% remained steady and unchanged month-over-month thus far in 2023.
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