VITAL STATISTICS
TAPO CANYON COMMERCE CENTER
4130 E. Los Angeles Ave., Simi Valley
Square Footage: 135,579
Deal Value: $56.4 million
Newmark’s team led by John DeGrinis, Patrick DuRoss and Jeff Abraham announced that an entertainment equipment supplier signed a 135,579 square foot industrial lease at Tapo Canyon Commerce Center, an under-construction, five-building, 342,557 square foot industrial campus in Simi Valley. Newmark vice chairman John DeGrinis, SIOR, executive managing director Patrick DuRoss, SIOR and senior managing director Jeff Abraham, SIOR served as the exclusive leasing advisors for the project and represented development partners Stream Realty Partners and QuadReal Property Group in the transaction.
Located in Simi Valley, Tapo Canyon Commerce Center offers tenants high image street frontage along Tapo Canyon Road and Los Angeles Avenue, immediate proximity to the San Fernando Valley and a central geography to the North Los Angeles region and beyond. The City of Simi Valley is business friendly, amenity rich and consistently ranked one of the safest cities in America.
LA North, inclusive of Simi Valley, accounted for nearly half of Greater Los Angeles’ net absorption activity through the first half of 2022, with 1.4 million square feet of industrial absorption year-to-date, according to Newmark Research. With a market-wide vacancy rate
of only 0.9%, tenants taking occupancy of preleased space continues to drive absorption figures. As quality buildings that come to market continue to be met with multiple tenant offers, new construction is quickly finding tenants.
VITAL STATISTICS
THE CENTER AT NEEDHAM RANCH
21700 Needham Ranch Pky., Santa Clarita
Square Footage: 198,451
Deal Value: (confidential)
Premier West Coast alcohol and non-alcoholic beverage manufacturer DrinkPAK, LLC signed a lease expansion for 198,451 square feet, bringing its total space occupied to 770,870 square feet across four buildings at The Center at Needham Ranch industrial park in Santa Clarita. Newmark vice chairman, John DeGrinis; executive managing director Patrick DuRoss; and senior managing director Jeff Abraham, represented the tenant. The DrinkPAK campus features three state-of-the-art high-speed beverage packaging lines capable of producing up to 4,900 cans per minute. At full operation, DrinkPAK will employ approximately 200 employees at its facilities and will produce 1.9 billion cans of product per year.
VITAL STATISTICS
14650 Calvert St., Van Nuys
Square Footage: 20,034
Deal Value: $22.8 million
The property, located at 14650 Calvert Street in the city of Van Nuys, is comprised of two industrial buildings situated on a large lot. The buildings feature two wide rear loading doors, fenced and secured parking, 15’ minimum warehouse clearance, ample power, and large covered loading and storage work areas. The property is in a prime Van Nuys location, adjacent to Sherman Oaks, and only 1.5 miles from the 405 freeway. This property received quite a bit of activity due to a very low vacancy rate and high demand for industrial property. This is a unique property, comprised of two industrial buildings and situated on a large lot with multiple entry points, an ideal location for tenants.