Privately held PacTen Partners' new Commerce Pointe development will rise inside Newhall Land & Farming Co.'s master-planned Valencia Gateway business park in Valencia. The park stands next to Interstate 5—the state's busiest truck route—at the intersection of State Highway 126.
Construction of the first eight buildings will begin by the end of this month, with completion expected by the fourth quarter. The eight buildings will offer a combined 234,000 sf.
Six of the initial buildings will be sold, PacTen partner Dennis Fitzpatrick says, and the other two will be leased. Construction of the five-building, 306,000-sf second phase is expected to begin next January, he adds.
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