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No sale for NTS parcel in Santa Clarita

Posted: June 21, 2008 3:10 a.m.
Updated: August 22, 2008 5:04 a.m.

This April 2008 aerial photo takes a view to the east, with Golden Valley Road in the center. NTS' Santa Clarita testing labs, including its bowl-shaped outdoor centrifuge, the world's largest, are seen on the east side of the highway. In the forground are L.A. County Fire Station 104 (center right) and the Emergency Winter Shelter (left).

 
CALABASAS, Calif. - National Technical Systems, Inc. (Nasdaq: NTSC) (NTS) announced today that it has been unable to sell its 118-acre parcel in Santa Clarita, Calif., on terms acceptable to the company. The parcel has been listed for sale since August 2007.

"Despite vigorous efforts to sell the parcel to a developer, the continuing deterioration of the commercial real estate market has significantly impacted interest in undeveloped Santa Clarita property," NTS Chairman Dr. Jack Lin said in a statement.

"The recent bankruptcy of a large developer/landowner in the general vicinity also is expected to adversely affect land values in the area. We will continue to pursue all avenues available to us, including a possible arrangement with a developer, but there can be no assurance that a sale or other arrangement on acceptable terms can be achieved."

NTS' Santa Clarita parcel is just east of Golden Valley Road and south of Centre Pointe Parkway on the western edge of Canyon Country.

NTS is a leading provider of engineering and evaluation services to the defense, aerospace, telecommunications, automotive and high technology markets. Through a world-wide network of resources, NTS provides full product life-cycle support, offering world-class design engineering, compliance, testing, certification, quality registration and program management.

For more information, visit www.ntscorp.com or call (800) 270-2516.

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