Global leader in satellite-based solutions, Terran Orbital Corporation, and net lease REIT W. P. Carey broke ground on Friday for a 94,000-square-foot satellite manufacturing facility located at 4 Goodyear in Irvine. The two companies have partnered to redevelop one of W. P Carey’s outdated office properties into a new Class A industrial facility which will serve as Terran Orbital’s fifth production site upon completion expected January 2024 following demolition commencement this past February.
Marc Bell, Chairman and CEO of Terran Orbital expressed excitement about the project saying “The new facility will propel Terran Orbital to new heights…We also look forward to the capacity increase the new facility will create as we continue to onboard contracts and satellite orders.” He further praised their partner stating that working with W.P Carey has been “a joy”.
