PacTen to Break Ground on Industrial Park
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West Los Angeles-based PacTen Partners will break ground soon on Commerce Pointe, a $34-million, 540,000-square-foot industrial park within Newhall Land & Farming Co.’s Valencia Gateway business park in Valencia.
The project will consist of 13 buildings ranging in size from 11,000 to 114,000 square feet. They will be designed to accommodate manufacturing, research and development, and warehousing, said Dennis Fitzpatrick, a partner with PacTen.
The first phase of the development will include eight buildings totaling 234,000 square feet. Construction of the five-building, 306,000-square-foot second phase is scheduled to begin in January.
PacTen is building the project to meet a strong demand for industrial space in the region, said Fitzpatrick, who cited a vacancy rate of less than 5% in the north Los Angeles County industrial market.
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