Terran Orbital, W. P. Carey Break Ground on Irvine Satellite Facility
Terran Orbital Corporation, a global leader in satellite-based solutions primarily serving the aerospace and defense industries, and net lease REIT W. P. Carey broke ground Friday on a 94,000-square-foot satellite manufacturing facility located at 4 Goodyear in Irvine.
In partnership with Terran Orbital, W. P. Carey will redevelop one of its outdated office properties into a new, Class A industrial facility, which will serve as Terran Orbital’s fifth production facility. Demolition of the existing building commenced this past February, and the project is expected to be completed in January 2024.
“Terran Orbital is thrilled to break ground on 4 Goodyear,” said Terran Orbital chairman and CEO Marc Bell. “The new facility will propel Terran Orbital to new heights. We are currently working on 30 programs and over 375 satellites, including initial constellation orders for SDA, Rivada, and a new constellation customer announced on May 15.
“We also look forward to the capacity increase the new facility will create as we continue to onboard contracts and satellite orders. W. P. Carey has been a joy to work with and we look forward to developing this new facility together.”