By Chris Wack
Terran Orbital and W. P. Carey said Friday that they have broken ground on a 94,000-square-foot, state-of-the-art satellite-manufacturing facility in Irvine, Calif.
In partnership with Terran Orbital, W. P. Carey will redevelop one of its outdated office properties into a new, Class A industrial facility, which will serve as Terran Orbital’s fifth production facility.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 began in February, and the project is expected to be completed in January 2024.
The facility will be located on a five-acre site and upon completion will increase Terran Orbital’s satellite assembly, integration and test facility space by more-than-three times the company’s current size. All satellite assembly will be moved to this new facility, enabling the dedication of Terran Orbital’s existing facilities to the production of components and modules.
Terran Orbital shares were up 5% at $1.57 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
Read the full article here
