Terran Orbital Corporation (NYSE:LLAP) said it broke ground this morning on a 94,000-square-foot, state-of-the-art satellite manufacturing facility at 4 Goodyear in Irvine, California, partnering with W. P. Carey to redevelop the office properties to serve as the company’s fifth production facility.
"Terran Orbital is thrilled to break ground on 4 Goodyear,” co-founder, chairman, and CEO Marc Bell said in a statement.
“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,” he added.
Demolition of the existing building began in February this year and the project is expected to be completed in January 2024.
The facility will increase Terran Orbital’s satellite assembly, integration, and test facility space by over three times the current size.
“We are thrilled to leverage our development capabilities to redevelop an outdated office asset and construct a new, state-of-the-art industrial facility for Terran Orbital, a global leader in satellite-based solutions,” Nicolas Isham, managing director, W. P. Carey said.
“The facility will be built with sustainability in mind and will target LEED Gold certification, with plans for a solar rooftop installation and electric vehicle charging stations. We look forward to welcoming Terran Orbital as our tenant and to working with them throughout the development process," he added.
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries.
Contact the author at jon.hopkins@proactiveinvestors.com