Crow Holdings backs Hanover's first SoCal industrial start

Crow Holdings Capital is writing checks that put institutional money behind developers making regional entrances, and Hanover Company's first Southern California industrial project is the latest to break ground: an approximately 200,000-square-foot building in Simi Valley, funded by a real estate fund the firm advises, Connect CRE reported.

The ground-up development at 903 Quimisa Drive sits on 13 acres just off CA 118 and will offer 36-foot clear heights, an 8.5-inch slab, skylights, and employee parking, a configuration suited to corporate headquarters, packaging and assembly, or distribution. Development partner Anthony Feenick called it “Hanover Industrial’s first project to Southern California” and said the firm is “grateful for our continued partnership with the team at Crow Holdings Capital.”

Days before the Simi Valley groundbreaking, the same capital source backed Creation’s groundbreaking on a 700,000-square-foot Avondale campus, a 38-acre project that pairs 36-foot clear heights with pickleball courts in a bet on advanced manufacturing tenants. Crow Holdings Capital’s regulatory AUM stood at $14.4 billion as of Aug. 22, per PWD’s records. The Simi Valley announcement names no tenant, suggesting the building is being developed speculatively.

Southern California infill industrial land is scarce enough that a debut project can pencil if the site and specs are right; the unresolved variable is execution, not demand. The underwrite reads as an infrastructure-style bet on the asset—land scarcity and location—rather than a track-record play on the sponsor. The first lease, not the groundbreaking, is the test of that math.