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Franklin Templeton and Clarion Partners Real Estate Income Fund Inc. have announced the acquisition of Pacific Golden Valley, a 172,483-square-foot Class A industrial building located at 26313 Golden Valley Road in Santa Clarita, California. The facility is fully leased to contract beverage manufacturer DrinkPAK. Financial terms of the transaction were not disclosed.
Pacific Golden Valley, developed in 2025 by Pacific Industrial, functions as a storage hub for both raw materials and finished beverage products. It complements DrinkPAK’s primary production facility at The Center at Needham Ranch, which is also owned by a Clarion fund and situated approximately five miles away.
“This transaction represents an exciting opportunity to acquire a newly constructed, Class A core investment in one of Los Angeles County’s most supply-constrained industrial corridors, while leveraging Clarion’s deep local market expertise,” said Janis Mandarino, Managing Director and Portfolio Manager at Clarion Partners.
The acquisition expands Clarion’s presence in northern Los Angeles County, where the firm currently owns 11 fully stabilized buildings totaling approximately 1.7 million square feet.
The deal was brokered by the Industrial Advisory Group at Cushman & Wakefield, which included Jeff Chiate, Rick Ellison, Matt Leupold, and Aubrie Monahan.
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