Sustainable development
Redevelopment of office portfolio asset into Class A industrial facility
In 2023, we broke ground on the redevelopment of an outdated office property, located in Irvine, California, which we redeveloped into a new, Class A industrial facility. The property was preleased to Terran Orbital Corporation, a global leader in satellite-based solutions.
In addition to bolstering Terran Orbital’s satellite production capacity and bringing jobs to the Irvine area, the redevelopment creates significant value for W. P. Carey by adding a Class A industrial asset located in a top-tier infill market to our portfolio.
Sustainable features include electric-vehicle charging stations, energy-efficient LED lighting, drought-resistant landscaping, advanced energy metering and a to-be-built, on-site rooftop solar system. W. P. Carey is targeting LEED-Gold certification for this asset. The redevelopment was completed in 2024, and the solar design is underway.
The project demonstrates how W. P. Carey’s Carey Tenant Solutions platform offers tailored real estate solutions to both existing and prospective tenants while also helping advance their sustainability goals.
Building Features:¹
- 10% of parking stalls have electric vehicle chargers
- 41% indoor water use reduction
- 94% demolition and construction waste diverted from landfills