DrinkPAK Leases Final Buildings At Center At Needham Ranch Industrial Park
Sierra Hwy & Needham Ranch Pkwy Santa Clarita, CA 91321, USA
$30
$30/SF
Building Size
193,324 SF
Asset Type
Industrial
Closing
May 1, 2023
AI
The Center at Needham Ranch (CANR), a 1.7-million-square-foot industrial park in Santa Clarita developed by Trammell Crow Company and Clarion Partners, is fully leased ahead of delivery, with construction set to complete by year-end 2023. Beverage manufacturer DrinkPAK has leased the final two buildings, bringing its total footprint at CANR to 965,000 square feet, and joining other tenants including L.A. North Studios, Illumination Dynamics, and a confidential e-commerce client.
Summary of transaction details
- Property Type: Industrial
- Asking Rent: $30/ft.
- Square Footage: 193,324
- Date: 05/01/2023
- Address: NE of Needham Ranch Pkwy & Sierra Hwy
- Market: Santa Clarita
The landlord for this property is Trammell Crow Company represented by John Balestra and Clarion Partners represented by Charlie Menne. The tenant, DrinkPAK, is represented by Patrick DuRoss, John DeGrinis, and Jeff Abraham from Newmark. On the other hand, Craig Peters, Cameron Merrill, and Doug Sonderegger from CBRE represent the landlord.
Players
Los Angeles Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
528766.67%
Cash-on-Cash
-151123.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93