Issuu

SANTA CL A R I TA VA L L E Y

BUSINESS O F F I CI A L P U B L ICAT IO N O F TH E SCV CH AM BER OF C OM M ER CE

J O U R N AL

VISTA CANYON

Santa Clarita Stock Index Keller Raggio Econowatch and More!

JULY 2022 VOL 14 • No 7 SIGNALSCV.COM/BUSINESS

J U LY 2022

SCV BUSINESS VOICES

Why Vacations Keep You Healthy PATRICK MOODY

Henry Mayo Newhall Hospital

oes taking time off work sound like more work than it’s worth? You aren’t alone. In 2017, more than half of American employees surveyed by Project: Time Off left unused vacation days on the table. For many people, the COVID-19 pandemic made the decision to travel even more complicated. It might be time to plan some downtime. Why it’s good to get away Vacations are important for both your mental and physical health. According to the Framingham Heart Study, men who skipped vacations for several years were 30% more likely to have a heart attack than those who used at least some of their vacation time. That’s not surprising when you consider that vacations can help lower stress and blood pressure. It turns out that jetting off to new locations is also good for brain health. Getting out of your comfort zone challenges your mind and builds brain resilience. BETTER THAN COUPLES THERAPY? Another benefit: Taking a trip with your significant other may improve the health of your relationship. According to AARP, research shows that women who vacationed frequently were more satisfied with their marriages than those who did not. Three ideas for your next vacation After you give yourself the green light to get away, it’s time to pick your destination. Try one of these three ideas to get your inner travel bug buzzing: Go for distance. Visit a part of the country you haven’t visited before, and take time to explore it. Learning about a new landscape will exercise your brain and may even boost your happiness. A study by the University of Vermont found that the farther travelers journeyed from home, the higher their happiness levels rose. Take a camping trip. Being outdoors reduces symptoms of anxiety and depression and lowers stress levels. It’s also an inexpensive option if you’re on a tight budget—and it’s a great way to get out of your comfort zone while continuing to practice social distancing. Plan a staycation. Speaking of being on a tight budget, staycations are an alternative if

leaving town is too pricey. The trick to a staycation is finding ways to make your hometown new again. Try heading to a museum or park you’ve never had time for, or explore another neighborhood. Something as simple as

choosing a new restaurant can be enough to get you out of your comfort zone. Just remember that your staycation is a time to recharge. Avoid spending it on household chores or workplace correspondence. 

This Summer, Make a Splash and

Plan your Santa Clarita Shopping Spree!

SHOP LOCAL

EAT LOCAL

4 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

J U LY 2022

C O N T E N T S NEWS & FEATURES 6 7 9 11 30 31

Future Retail Trends and Forecasts CEO Spotlight: Jim Backer, JSB Development DrinkPAK at Needham Ranch The Future of Shopping Malls Santa Clarita Stock Average Econowatch

LIST

7 future retail trends and forecasts

Commercial Real Estate

FROM THE EXPERTS 8 12 18 24

Ken Keller: One Bad Apple Paul Butler: Correlation between a Good Parent, Listener Paul Raggio: Getting Customer Service Right Jeff Prang: Property Value Decrease is Reviewable

SCV BUSINESS VOICES 2 5 10 13

9 DRINKPAK AT NEEDHAM RANCH

Henry Mayo Newhall Hospital Audiology Associates SCV Economic Development Corp. Pierson Wealth

CHAMBER SPOTLIGHTS 14 15 16 17

Chamber News Celebrating SCV Businesses Upcoming Events Celebrating SCV Businesses

July 2022 | Vol. 14 | No. 7

11 THE FUTURE OF SHOPPING MALLS

PUBLISHER

Richard Budman rbudman@signalscv.com (661) 287-5501

BUSINESS JOURNAL EDITOR Doña Uhrig

SALES REPRESENTATIVES Maureen Daniels Jennifer Ramos Barbara Ward

A proud publication of

SINCE 1919

SignalSCV. com

24 property value decrease is reviewable

Santa Clarita Valley Business Journal (a Signal publication), © 2022, is published monthly by the Santa Clarita Valley Signal newspaper, Paladin Multi-Media Group, Inc., 25060 Avenue Stanford, Ste 141, Valencia, CA 91355. The SCV Business Journal is intended to provide business executives with a cross-section of industry news and information, trends and statistics that impact our growing community. Information gathered in the pages of the SCV Business Journal has been collected from what are considered reliable sources, and is believed to be accurate, but cannot be guaranteed. Articles may not be reprinted without publisher’s written permission. For reprint requests, please call (661) 259-1234.

J U LY 2022

SCV BUSINESS VOICES

Three Common Questions about Hearing Health, ANSWERED DR. KEVIN BOLDER

AuD, Audiology Associates

hen it comes to hearing loss, it’s normal to have a lot of questions. As hearing care professionals, we frequently have patients come in with questions about their hearing, hearing aids, different types of hearing loss, and how we can help them find a solution. Q What causes hearing loss? A Depending on the type of hearing loss you have there are many factors that could have contributed to your hearing loss. Some common causes of hearing loss include: ear infection, head/ear trauma, malformation of the outer/inner ear, aging, genetics, earwax build-up, perforated eardrum, exposure to loud noise, or medications that are toxic to hearing.

Q Can I talk on the phone with my hearing aids in? A You can talk on the phone with your hearing aids in, and with today’s technology you won’t receive any distracting feedback or whistling. With Bluetooth compatible hearing aids you can connect your devices directly to your smartphone. This allows you to stream phone calls straight to your hearing aids. Bluetooth hearing aids make listening to phone calls easier and less complicated. Q What if I lose my hearing aids? A If you lose your hearing aids and they’re still under warranty, contact us immediately. Many manufacturer warranties will replace a lost hearing aid within two years after you’ve purchased the device, but it varies depending

on the manufacturer and type of device. The best thing you can do to make sure you are maintaining your overall health and wellbeing is receive regular hearing screenings in addition to your other doctor visits. To schedule a hearing aid consultation today, please call Audiology Associates at (661) 284-1900. Kevin Bolder, Au.D and John Davis, Au.D are two of the best in Santa Clarita and San Fernando Valley. Visit our website at www.AudiologyAsso ciates.net or stop by our NEW office located at 25425 Orchard Village Road, Ste 220, Santa Clarita, CA 91355. We are hearing healthcare excellence! 

6 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

J U LY 2022

Future Retail Trends and Forecasts for 2022-2023

he retail industry, in particular, received a huge blow as brickand-mortar stores had to close. It also meant that businesses had to step up their online game to continue engaging and attracting customers despite the ongoing pandemic. Their rate of adaptation could be the thing that allows them to overcome the challenges brought about by the lockdown. Whatever the case, technological and social shifts are unearthing several retail trends. These can shape the way global consumers buy things — or even what they buy. These shifts in retail are less of a seismic shift and more of a gradual change. The change of direction of retail in the coming years is, surprisingly, not just because of technology but due to changes in consumer behavior. While analysts used to be so sure that e-commerce is the future, the rapid adoption of broadband technology and the shift in “experience over material” commodities have just made e-commerce another channel to shop in. It’s a big channel, though. Our retail statistics reported that global retail e-commerce sales grew by 27.6% in 2020 compared to the previous year, with a total of $4.280 trillion. This doesn’t mean that brick-and-mortar is dead, however. In a survey published by the University of Arizona, a majority of respondents thought that traditional retailers are part of the social fabric and

Sources of Customer Information Retailers Increasing Use to Drive Sales 50%

Transition Data

36%

Traffic Hours

27% Consumer Insight (Social media, online comments)

20%

Loyalty Problem

Online Shopping Information

9% Location-based Technology

DATA COURTESY FINANCES ONLINE

their demise will be bad for the economy in the long run (ScienceDaily). However, store closures, of which there were 11,000 in 2020 — up from 9,300 in 2019 — show how the pandemic has shortened what was supposed to inevitably occur in the long-term (Talk Business & Politics, 2021). 1. Shifting customer behaviors Over 60% of lead US marketing professionals said that their businesses were af-

fected by the pandemic. And yet, 43% of them are not sure whether the changes in consumer behavior will hold after the pandemic (Forbes, 2020). But according to McKinsey, more than 60% of consumers adopted a new behavior plan to stick with even after the pandemic (Fortune, 2020). This might hold true for people who had to resort to shopping online for groceries and other necessities. A survey showed that there was up to a 40% net increase in intent to continue purchasing

Seniors in the US are becoming savvier shoppers, according to Forbes. Because of the pandemic, they are forced to learn how to shop online.

goods online even when the pandemic is over (McKinsey, 2021). In the UK, 5.7 million households shopped for their Christmas groceries online. This could be seen in Tesco’s online grocery sales that reached more than $1.38 billion during the 19-week period. Sainsbury as well had a great Christmas and announced a 128% growth in online grocery sales (Econsultancy, 2021). Moreover, it looks like seniors in the US are becoming savvier shoppers, according to Forbes. Because of the pandemic, they are forced to learn how to shop online and to do consultations over the air. Additionally, demand for smart home devices and assistive technology is anticipated to go up, as seniors are avoiding going to nursing homes. Some are even thinking about spending their savings now. Businesses will do well to target them in their marketing strategies since consumers aged 50 years and older represent 71% of the nation’s wealth. See RETAIL, page 26

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 7

J U LY 2022

Spotlight: Jim Backer BY JIM WALKER

PRESIDENT JSB DEVELOPMENT

Signal Staff Writer

f you’ve driven north on the 14 Freeway through eastern Canyon Country in the last couple years, and looked across the riverbed, you’ve surely noticed the burgeoning development of Vista Canyon. Approved by the city of Santa Clarita in 2011 for 1,100 residential units and 950,000 square feet of commercial space (office, retail, hotel), the project has, from its inception, been designed as a community in every sense of the word. It is described as “a new community that reimagines the suburban experience, combining the openness and nature of the Southern California lifestyle with a mass transit and pedestrianoriented, one-of-a-kind environment in which to live, work and play.” This reimagining includes a bus transfer center and Metrolink commuter rail station as part of the Vista Canyon Regional Transit Center, plus living/ working/shopping space within walking distance and easy access to trails and bike paths. When completed, there will even be a bridge across the riverbed for easy access to the 14 freeway. There will be park and recreational space and even a water factory. Jim Backer is president of JSB Development, the company bringing Vista Canyon to life. Steve Valenziano was a partner in the project until he retired in 2021, and Glenn Adamick has been the skillful leader of the entitlement efforts from the beginning. With decades of experience developing Santa Clarita properties, and deep roots in the community, Backer’s creative mind and guiding hand have ensured the project will usher in the future of design and sustainability. “We’re trying to set the tone with cutting-edge architecture,” he said. “And, more important, we are really trying to make this a sustainable community in which to live, work, exercise, use trails and park space — have multiple transportation options – and enjoy the bene-

JBS Development President Jim Backer. PHOTO BY DAN WATSON / THE SIGNAL fits of solar and our Water Factory. We’d like people to enjoy the outdoors and all other aspects of this unique community as much as possible.”

Deep Community Roots

Jim Backer has been developing properties in the SCV for many years, first with Newhall Land, and, since forming JSB in 2000, with his own company. With Newhall Land, he was instrumental in the creation of the Valencia Commerce Center and Town Center Drive. JSB has been responsible for more than 50 major buildings in the SCV, totaling more than 1.5 million square feet of space. Just a few of the notable projects JSB has built or contributed to include Tourney Place, RiverCourt, Monticello, and Centre Pointe Business Park. Backer has lived in the Santa Clarita Valley since 1986, brought his wife Susan here and raised three children. But none

of that could have been predicted. Born and raised in Omaha, Neb., he attended Stanford University as a history major. During one summer in his Stanford days, he interned in the US Senate. “It helped me understand the democratic process, and how to work with government,” Backer said. During his senior year at Stanford, he was a resident assistant in a dorm. “I learned that we could host a trustee for dinner in our dorm, and that trustee turned out to be Jim Dickason, chairman of The Newhall Land and Farming Company,” he said. “We hit it off, and he helped me start interviewing with banks. But I realized banks weren’t really for me, and so he said to come on down and take a look at Newhall Land. I did and got a job.” Backer noted that his history major See BACKER, page 22

8 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

J U N E 2022

‘One Bad Apple Can Spoil the Barrel’ KEN KELLER

SCVBJ Contributing Writer

n the 1986 movie “Cobra,” police officer Marion Cobretti (Sylvester Stallone) confronts a drugged up psycho holding shoppers hostage in a supermarket declaring, “You’re a disease and I’m the cure.” The word “cure” isn’t likely to be found in any CEOs job description, but it is a responsibility they need to be aware of, and take action on, when it comes to dealing with internal terrorists. I’m speaking specifically about dealing with the malcontents. They could be a front-line employee or one of your senior managers, a direct report to you. Every company I know has at least one of these types, and some have more than they admit to. What does this cost your company? More money than you can count:

Research suggests that having just one single deadbeat, downer or jerk can bring down group performance by as much as 40%.

lost clients lost revenue opportunities lost productivity late orders low morale

just one single deadbeat, downer or jerk can bring down group performance by employee turnover and as much as 40%. increased hiring costs. To illustrate, a retailer fired a topYou depend on your employees to producing salesman identified as a bad work effectively and efficiently to take apple. After his departure, none of his care of clients and each other, and some former colleagues sold to his level, but are seriously letting you down. the store’s total sales shot up nearly The Progress Report study was high30%. lighted in The Wall Street Journal on One way to confidentially identify the negative impact of “bad apples” in a your “bad apples” is to have each indicompany. The report spotlighted three vidual in the company create a Mission general categories of this type of emto Mars group. This is an exercise from ployee. Jim Collin’s book “Good to Great.” It First are the deadbeats who work at works like this: less than their potential; these people Every employee in the company, withare serial “withholders of effort.” out exception, is told that they are reSecond are the downers, individuals sponsible for taking with them the very expressing negativity, pessimism, anxibest people in the company to do their ety, insecurity and irritation at everysame job on Mars. thing around them. Because it is new territory, much will Third are the jerks, violating interpersonal norms of respect in their behavior be expected of all who make the trip; it will not be an easy job and everyone toward others. The research suggested that having onboard must produce in a collabora-

tive team environment, for the mission to succeed. There are just seven seats available on the rocket. One seat is assigned to the person picking the others. Each person is required to fill all six seats and only six seats, no exceptions. Who is likely to be on the lists? The actively engaged, the hard working, the people in sync with company vision, values and mission, those who lead by example, who have credibility with everyone, and are competent at what they do and are team players. But the most important take away from this exercise is who is not on the lists. When it comes to identifying and trying to turn things around with people who aren’t invested as much as they should be at your company, ask yourself if you are the cure, or the part of the disease, enabling others to contribute less than they are capable. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 9

J U LY 2022

DrinkPAK at Needham Ranch BY JIM WALKER

One of the largest and most advanced beverage manufacturing and distribution facilities in the US

Signal Staff Writer

hose who travel south on the 14 Freeway through the Newhall Pass have watched the city of Santa Clarita grow right before their eyes, with the rapid buildout of a major industrial center in the hills west of Sierra Highway. The Center at Needham Ranch is a 135-acre, masterplanned business park, approved in 2003 for more than 4 million square feet. All buildings in Phase 1 are now leased, and most in Phase 2. Prominent among the businesses filling all that square footage is DrinkPAK. First opening at the Center in July of 2021, DrinkPAK has expanded its leases to now include three new and spacious buildings along Needham Ranch Parkway. The company now leases Buildings 2, 3 and 4, for a total of 572,419 square feet of advanced warehouse and manufacturing space — and serves, as the website states, as “the premier West Coast contract manufacturer of premium alcoholic and non-alcoholic beverages.” DrinkPAK CEO Nate Patena said, “We have an additional 201,000 square feet in Ventura County, and will be adding 200,000 additional square feet in Los Angeles County in mid-2023, for a total of just under 1 million square feet across our Southern California production and distribution campus.” Laying claim to being the most technologically advanced canned beverage facil-

PHOTO COURTESY DRINKPAK

ity in North America, the 24/7 operation at Needham Ranch is capable of producing 2.1 billion cans across four packaging lines, which produce up to 2,000 cans per minute each. DrinkPAK is a licensed brewery, winery and distilled spirits plant, and the company produces a wide variety of product styles including beers, hard seltzers and maltbased drinks, canned cocktails and spirits, canned wines and sakes, energy drinks and sodas, seltzers and premium water, juice drinks, coffees and teas. DrinkPAK also offers comprehensive operational services, including procurement support, complex batching and processing, filling, packaging and full 3PL warehousing and fulfillment services. These services are utilized by some of the world’s biggest

energy drink, soda, beer, seltzer, and spirits brands. Patena said, “Over the last three years, DrinkPAK has invested nearly $150 million to build one of America’s largest, most technologically advanced beverage manufacturing and distribution facilities in Santa Clarita. We will continue to heavily invest in projects which will bring additional high paying, high impact jobs to Santa Clarita and the surrounding areas.” Breaking things down, DrinkPAK offers three main categories of services: beverage manufacturing, variety repacking, and warehousing and fulfillment. Currently, the company employs 241 people at the Santa Clarita location, and will employ as many as 425 once the facilities are complete in late 2023. Estimates are that DrinkPAK

will have a total five-year economic output of more than $950 million, labor income of more than $277 million, and over $24 million in state, county, and local fiscal revenues. These economic benefits are just one firm’s contribution to those envisioned when the Needham Ranch project was approved. Additionally, as the city’s website states, benefits include dedication of open space and infrastructure improvements. DrinkPAK is expanding its work force in Santa Clarita, “committed to attracting best-in-class talent with extremely compelling compensation and benefits, a commitment to growth and career advancement, and an engaging 2.0 work environment.” For more information visit www.drink-pak.com. 

J U LY 2022

SCV BUSINESS VOICES

SCV Companies: Business Climate in SCV is Robust HOLLY SCHROEDER

President & CEO of SCVEDC

ocal companies positively rate the business climate and quality of life in the Santa Clarita Valley. That’s the key takeaway from the Santa Clarita Valley Economic Development Corporation’s 2022 Business Survey of 155 companies. Given the backdrop of the past two years in grappling with the effects and aftermath of the COVID-19 pandemic, the SCVEDC conducted a comprehensive Business Survey outreach to local businesses in March 2022 as a postpandemic extension of SCVEDC’s ongoing business retention program. Business input through the survey process is utilized to assess the current and forecasted business climate, as well as identify actionable needs and priorities of existing industry in the Santa Clarita Valley. Companies included in the survey represent different business sectors within the Santa Clarita Valley, with a proactive outreach to key industry clusters that necessitate skilled labor, experienced leadership and higher wages. Outreach also included larger companies whose presence in Santa Clarita Valley make a significant economic impact. The 155 survey responses comprise the findings in the survey report, including follow-up qualitative research conducted with 22 SCV survey respondents in a diversified range of business sectors and sizes. The Business Survey covered five topics including: COVID Impact, SCV Business Climate, Company Business/ Forecast, Company Operations and SCV Resources/Business Needs A key focus of the survey was to assess the SCV Business Climate and identify opportunities to remedy problems or invest for continued success. Respondents were on the verge of being effusive in their praise of the SCV business climate, almost as much as they were stridently frustrated with the overall climate in the State of California. Of the respondents, 82% indicated that the business climate is good or extremely good in the SCV. When asked the open-ended question of the biggest challenge facing companies, remarks about the CA tax and regulatory environment abounded. If the positivity about the SCV business climate wasn’t enough, responses about the quality of life in SCV were stunning. Of the responses, 91% answered that the quality of

life was somewhat or extremely good, of which 57% said extremely good! Not surprising given the widespread shifts in labor markets and the “Great Resignation,” the most pressing issue facing business is the ability to find the workers they need to compete in the global market. Many of the surveyed companies operate businesses that demand in-person work, such as manufacturing and TV/ film production. While many of these companies

2 0 2 2

expressed a preference for workers to return to the office, even those with positions that could work from home, and expressed a desire to reduce the availability of remote work as the pandemic abates. At the same time, business leaders recognize that some degree of hybrid work is likely here to stay and identified the need to improve broadband services to support it. I will review our findings in greater detail in this column in the coming months. 

E C O N O M I C

INFORMATION VITAL TO YOUR BUSINESS IN 2022 AND BEYOND It's more important than ever for business leaders to arm themselves with vital information and data to gear back up and make decisions that will impact growth and success in 2022 and beyond. A panel of business leaders will discuss issues around corporate resilience, agility and innovation in the face of unique challenges. Economist Mark Schniepp, Director of California Economic Forecast will release the full Economic Outlook report focusing on data from the Santa Clarita Valley.

8:00 - 11:00 AM Pacific | September 9th, 2022 College of the Canyons - Performing Arts Center ECONOMIST

Dr. MARK SCHNIEPP California Economic Forecast

BUSINESS LEADER PANELISTS

ANA FONSECA Logix

JOHN PRABHU LA North Studios

PRESENTING SPONSOR

NATE PATENA DrinkPAK LLC

MODERATOR

TODD STEVENS Black Knight Energy LLC

TICKET & SPONSORSHIP INFO Online: scvedc.org/outlook Phone: 661.288.4400 Email: scvedc@scvedc.org

11 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

J U LY 2022

The Future of Shopping Malls BY ROBERTO FANTONI AND MARINA MAZZAROLO

For the SCV Business Journal

o survive in the digital age, malls will need to reinvent themselves. Here’s how Officially shopping malls are defined as “one or more buildings forming a complex of shops representing merchandisers, with interconnected walkways enabling visitors to walk from unit to unit.” Unofficially, they are the heart and soul of communities, the foundation of retail economies, and a social sanctuary for teenagers everywhere. In recent decades, the concept of the shopping mall, which has its origins in the U.S. and became a full-blown modern retail trend there in the post-WWII years, has proliferated across the globe. The five largest malls in the world now reside in Asia. China’s New South China Mall in Dongguan stands at the top of the heap with 2.9 million square meters of space. Despite its ubiquity, the mall as it’s been conceived for the last half century is at a critical inflection point. A storm of global trends are coming together at the same time to cause malls to change the role they play in people’s lives. No longer are they primarily about shopping. Now, when consumers visit malls, they are looking for experiences that go well beyond traditional shopping. The trends helping to create this change include changing demographics, such as an aging population and increased urbanization, which means more people living in smaller spaces and a greater need for public spaces in which to socialize and congregate. In this environment, malls offer a welcome watering hole, especially in cities where other public spaces are not safe. Sustainability concerns are causing some consumers to prefer mixed use developments where they can live, shop and work all within walking distance — instead of having to get into a car and drive to a crowded suburban mall. The growing middle classes in Latin America and Asia maintain a strong asso-

Shopping malls around the world are offering more than traditional clothing or accessory stores. The Dubai Mall has an aquarium and Xanadu in Madrid also offers a ski slope, go karts, balloon rides, bowling and billiards

ciation between consumption and pleasure, driving the need for more engaging shopping experiences. And finally, the e-commerce revolution and the rise of digital technologies are fundamentally reshaping consumer expectations and shifting the function of stores toward useful and entertaining customer experiences. As these trends advance across the global stage, they are forcing mall operators to rethink how they conceive and operate their properties. This identity crisis is most intense in the U.S., the country that pioneered malls and has the most malls per inhabitant. Thanks to a continued economic slowdown and rapid advance of the digital revolution, the U.S. mall industry is retracting and facing high vacancy levels. Websites such as deadmalls.com collect pictures of weedy parking lots and barren food courts, and try to explain how once-thriving shopping centers began to spiral downward. In the face of these considerable challenges, malls are seeking to stay relevant, drive growth and boost efficiency. We see successful players investing along three key fronts. 1. Differentiating the consumer offering, with a focus on experience and convenience. Online shopping provides consumers

with ultimate levels of convenience. Malls will never be able to compete with the endless product selection, price comparisons and always-on nature of online. Nor should they try. Instead, malls need to move in a different direction, away from commoditized shopping experiences and toward a broadened value proposition for consumers. Innovative malls are incorporating value-added elements that attempt to recast the mall as the new downtown, including concerts, arts centers, spas, fitness clubs and farmer’s markets. These services provide a level of leisure and entertainment that can never be satisfied online. Xanadu, a mall 30 km from Madrid, for instance, has gone out of its way to provide the means for parents to spend quality time with their children. The mall features a ski slope, go karts, balloon rides, bowling and billiards. Similarly, the Mall of America in Minnesota has an underwater aquarium, a theme park, and a dinosaur walk museum. In Brazil, for instance, a new focus on leisure and entertainment is already driving growth. Revenue coming into malls from these offerings grew 41% in 2013 compared to 2012. An emphasis on fine dining and events is also helping to make malls the hub See MALLS, page 20

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J U LY 2022

Correlation of Being a Good Parent, Good Leader BY PAUL BUTLER

SCVBJ Contributing Writer

arly this morning (on the day after Father’s Day) I am scouring the pages on the wonderful worldwide web called Facebook and I came across a short video about my friend Nate. Nate is my neighbor — a man of faith, married with five children. Yes, five children. Nate’s wife Katie put together a video of their children who range in ages from 1-15. On the short video each of the children gave their testimony about why they love their dad. It was a Father’s Day gift from them to him. What I heard in those precious five minutes made me clearly see the correlation between being a good parent and a good leader. It’s these timeless principles, which not only bring out the best in a family but can also optimize a work team or build an effective organizational culture. Nate’s children spoke about how he loved them; how he spent time with them; how he read stories to them; taught them; had fun with them; protected them and provided for them. Each of the children expressed how their dad loved their mom. Out of the mouths of these children, I heard the profound principles of effective leadership. When I consider the best leaders, I ever worked for they were each men or women who clearly loved what they did. These leaders exhibited genuine care for me as their direct report. They worked hard and so I did. I learned from their teaching. I remember the fun we also had — these were people who were joyful and great to be around. I can also recall times when each of the leaders I’ve admired went to bat for us and in doing so, protected and provided for us. I also never heard them bad-mouth the other parents. Just as Nate is a man of faith, I also got the sense as I look back, that each of these leaders held themselves to a higher standard than a mere board of directors — they understood the noble, honorable duty of being a leader.

Being a good leader is identical to being a good parent. It’s not complicated.

Conversely, I am presently reading a book about the spectacular rise and scandalous fall of Enron. I am only part way through the book but I am scratching my head on two recurring questions I have while reading. The first question I am asking myself is: “How much money is enough?” The reward packages some of these deceptive leaders at Enron were receiving were astronomical and way beyond what one individual would need or use in 20 lifetimes let alone one. But still they always seem to have wanted more. It was their greed and selfishness that drove them. Conversely, I don’t think I have ever heard Nate talk about money although I am sure it’s a big burden he carries in his commitments to his wife and five dear children. Likewise, when I think of great leaders I’ve known, I never got the sense they were chasing the almighty dollar or sterling pound. The second question I am asking myself upon reading the Enron story is: “I wonder what their ex-colleagues think of them now?” The book is peppered with stories of cloak and dagger interludes and people saying one thing and

doing something else. A lack of integrity abounded. It really was dog-eat-dog. Conversely, when I think about great leaders I’ve worked for, I have good memories of our many interactions. Relating this to the role of a father — I always think one of the best testimonies of our parenting is the memories the children have. I hope I am thought as a father half as well as Nate clearly is. My conclusion is that being a good leader is identical to being a good parent. It’s not complicated. Be a decent person. Have integrity. Look out for others. Keep learning. Teach others. Be someone worth following. Care about what you do. Have fun. Laugh at yourself. Be humble. Work hard. Don’t gossip about other leaders. Be satisfied with what you have. Don’t chase the mirage of money. Thanks, Nate, for the leadership lessons I am reminded of, because of how you love and lead your family. Paul Butler is a Santa Clarita resident and a client partner with Newleaf Training and Development of Valencia. For questions or comments, email Butler at paul.butler@newleaftd.com. 

J U LY 2022

SCV BUSINESS VOICES Are all the pieces of SCV BUSINESS VOICES your financial future coordinated into one holistic plan?

Mid-Year Financial Review: Are you on track for your ideal retirement? IVY PIERSON

Founder and Investment Advisor Representative Pierson Wealth Management

s we reach mid-year and head off on our summer vacations, it is easy to fall off track from our financial goals. Set aside time to review your plan with an advisor and make informed choices to ensure all the pieces of your financial plan are working cohesively toward your 2022 and long-term goals. Investors today, particularly those at or nearing retirement, are confronted with an array of obstacles as a result of market volatility and a rapidly evolving tax and legislative landscape. With retirement tax law changes from the SECURE Act and the new 2022 RMD rules that are now in effect, retirement savers have complex questions and financial plans that are in need of review and potential updates. It is also important to regularly assess if any major life changes may alter your plans, such as

purchasing a retirement home, the decision to retire early or preparing for potential healthcare emergencies. Both major life transitions and ever-changing tax laws require urgent and thoughtful consideration for adapting your comprehensive financial plan. Having essential, timely conversations and consistently reassessing your situation help keep you on track for your ideal retirement. Let’s connect for a 20-minute call to discuss how we can be of help. Contact us at (661) 297-7566 or visit www.PiersonWealthManagement.com. Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500.

Ivy Pierson, CEP, MBA

Founder & Investment Advisor Representative

Prosperity with Confidence Contact us today to book a 20-minute introductory phone call to discuss your situation, goals and needs. We look forward to helping you pursue your goals and objectives. 28368 Constellation Rd Unit 396, Santa Clarita, CA 91355 (661) 297-7566 (661) 263-9958

PiersonWealthManagement.com Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic #OC92500

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SCV CHAMBER EXPANDS DIVERSITY, EQUITY, AND INCLUSION EFFORTS WITH LAUNCH OF BLACK BUSINESS COUNCIL The Santa Clarita Valley Chamber of Commerce today announced the launch of its new Black Business Council which will work to inspire, empower, and promote the economic growth and sustainability of black businesses, entrepreneurs, and professionals within the Santa Clarita Valley.

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SCV CHAMBER RECEIVES INAUGURAL “BIZZIE” AWARD FROM LA BUSINESS FEDERATION The SCV Chamber was honored to receive the Business/NonProfit award at BizFed’s inaugural “Business Makes LA County Work” Awards. The award was in recognition of the advocay work that the Chamber does on behalf of the business community. Assemblywomen Suzette Valladares received the Public official award.

Longtime resident, Local entrepreneur and Black business owner, Di Thompson, will serve as the inaugural chair of the newly formed Black Business Council. Thompson is an independent Realtor with eXp Realty and a member of the SCV Chamber Board of Directors. “As the Santa Clarita Valley grows and economically diversifies, it’s important to support the creation and growth of Black businesses to allow for wealth creation and economic empowerment opportunities in a growing facet of our community,” said Thompson. “In just the last several months, we’ve seen more black businesses joining the SCV Chamber and growing their businesses which shows the strength of our Black business community in the SCV.” The goals of the Black Business Council are to amplify the efforts of Black-owned businesses; provide support, advocacy, awareness, and consultation; eliminate barriers to opportunities; address issues unique to black owned businesses, professionals, and their families; and encourage entrepreneurship, career opportunities and career development, and community engagement. “For the last 18 months, the SCV Chamber leadership has reached out to individual black-owned businesses and professionals to begin a dialog and establish relationships that laid the foundation for the creation of this new Council,” said Ivan Volschenk, President and CEO of the SCV Chamber. “We are continuing our work to build a more diverse and inclusive business community which represents all businesses in the Santa Clarita Valley.”

LA County 5th District Supervisor, Kathryn Barger, presents SCV Chamber President/CEO, Ivan Volschenk, with the BizFed “Bizzie” award.

Anyone who is interested in joining or finding out more information about the council can email hello@scvchamber.com. Di Thompson - Chair of SCV Chambers Black Business Council. If you are interested in joining any of our councils or finding out more please email us at hello@scvchamber.com.

Leadership of BizFed pose with the honorees for the LA County 5th District “Bizzie” awards.

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2022 Board of Directors CHAIR OF THE BOARD DR. CHRIS RAIGOSA - Kaiser Permanente

EXECUTIVE COMMITTEE HUNT BRALY - Poole, Shaffery & Koegle, LLP ANDREA CARPENTER - Logix MARISOL ESPINOZA - Southern California Gas Company

BUSINESS COUNCILS

As the third largest city in Los Angeles County, the Santa Clarita Valley Chamber of Com-

merce represents over 65,000-member workforce. We realized we can better serve our business community by having six Business Councils, allowing members to work on issues specific to their area. Our Councils provide a channel for our members to be involved in solving problems, discussing issues, and implementing special projects and events for the benefit of the area being served. Participation offers members the opportunity to prioritize and bring a focus to the business needs of the area, and to take community leadership roles in addressing these needs. It can increase members’ business network, and provide stronger representation on area issues. Also, since area councils exist as industry-specific, participation provides an opportunity for area-specific networking with others doing business.

LATINO BUSINESS ALLIANCE Our LBA council works to promote Latino-

Michael Grisanti - Hedman Partners, LLP

owned business as well as relevant issues fac-

BECKI ROBB - Princess Cruises

ing our Latino business community. In addi-

SANDY SANCHEZ - FivePoint JOHN VANCE - Vance Wealth

BOARD OF DIRECTORS KAREN BRYDEN - SCV Locations STEVE COLE - SCV Water Agency JASON CRAWFORD - City of Santa Clarita ANDREA DE LA CERDA - Scorpion MATT DIERCKMAN - Colliers International TROY HOOPER - Kiwi Hospitality Partners PATRICK MOODY - Henry Mayo Newhall Hospital DR. IZU OKPARA- Omni Wound Physicians DAN REVETTO - AT&T HENRY RODRIGUEZ - State Farm Insurance LINDSAY SCHLICK - SchlickArt Video & Photography CHRIS SCHRAGE - LBW Insurance Financial Services ROCHELLE SILSBEE - Southern California Edison G. JESSE SMITH - California Institute of the Arts DI THOMPSON - THOMPSON REALTY ADVISORS DR. DIANNE VAN HOOK - College of the Canyons DENNIS VERNER - Burrtec KARINA WINKLER - Holiday Inn Express

tion the LBA helps to educate businesses on how to enhance a company’s business efforts with Latino customers and other Latinoowned businesses.

GOVERNMENT AFFAIRS The Government Affairs council meets to discuss policy decisions on a local, county, state and federal level. As a member, you are encouraged to attend a meeting and have your voice heard throughout the SCV and take a stance on pertinent issues relative to the business community or your industry in particular.

SMALL BUSINESS Small Businesses are at the core of our Chamber’s membership and are the backbone of our economy. The Chamber offers a variety of educational and networking programming to help your small business thrive. The council focuses on three main objectives: Advises the SCV Chamber on small business related issues, programming and networking opportunities; Supports the Chambe’s “Retail Walks” with elected officials; and helps promote the nationwide “Small Business Saturday” program which highlights small businesses on the Saturday after Thanksgiving.

BLACK BUSINESS COUNCIL Our Black Business Council works to inspire, empower, and promote the economic growth and sustainability of black businesses, entrepreneurs, and professionals within the Santa Clarita Valley. In addition it serves as a catalyst for engagement, awareness building and consultation; eliminate barriers to opportunities and addresses issues unique to black owned businesses, professionals, and their families;

NON-PROFIT The SCV has a strong philanthropic community with more than 100 locally-based nonprofit organizations that help our community thrive. Our non-profits are a key reason why Santa Clarita is a great community and always looking towards a better future. The council provides business resources for our local non-profit leaders to help them connect, grow and learn about valuable information so they can successfully meet their organizations mission and goals.

NEXTSCV NextSCV is our next generation of leaders and the group aims to develop the next leaders of the Santa Clarita Valley through personal and professional development, civic engagement, and network building opportunities that ultimately stimulate local businesses and support the mission of the SCV Chamber.

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UPCOMING EVENTS Government Affairs Council July 12 | 10:30am Join us to hear about what issues our business community are facing. Elected officials and their staff will give updates from federal, state and local offices. This is a great opportunity to hear what advocacy the Chamber is doing for you and also to find out how you can bring the issues you care about for us to assist you with. Our massive grassroots alliance is comprised of organizations locally and throughout the country who help strengthen our advocacy efforts and ensure our advocacy efforst are successful. Email hello@scvchamber.com to find out how to attend or submit an issue you are facing. Our Latino Business Alliance invites you to celebrate Hispanic Heritage Month, with our annual celebration, where we gather to network and honor the achievements of Hispanic businesses in the Santa Clarita Valley. Every year, from September 15 to October 15, we celebrate National Hispanic Heritage Month by appreciating our Latino community’s history, heritage, and contributions. Hispanic Americans have been integral to the prosperity of the U.S. and the Santa Clarita Valley. The Hispanic-American community has left an indelible mark on U.S. culture and economy. If you are interested in sponsorsing, please email hello@scvchamber.com.

To find out more information about these events or any other upcoming programming and to register go to:

www.SCVChamber.com/Events

J U LY 2022

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CELEBRATING SCV BUSINESSES We continue to be so proud of the resilience of our business

community in the Santa Clarita Valley. Despite the pandemic and all the challenges we have faced over the last two years, we continue to grow and celebrate our amazing community. From celebrating new businesses opening or marking special occasions and achievements, we have been proud to be part of your celebrations. Our grand opening/ribbon cuttings are free and open to all to attend. Do you have a grand opening or anniversary coming up? Email us at hello@scvchamber.com for details about hosting a ribbon cutting ceremony.

We celebrated the grand opening of Thermal Horizons Yoga and Wellness Center in June. Congratulations and welcome to the Santa Clarita Valley business community. Give them a visit at 25834 McBean Parkway, Valencia. www. thermalhorizons.com. Photo credit: Joie de Vivre Photographie Join us for Restore Hyper Wellness Grand Opening on July 14 at 4pm. Free services of Cryotherapy, Red Light Therapy and Compression will be offered to those attending.

Congratulations to Blo-Out Lounge on their first anniversary! Visit them at 24303 Town Center Drive, Unit 120, Santa Clarita. www.theblooutlounge.com. Photo credit: Joie de Vivre Photographie

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Getting Your Customer Service Right BY PAUL RAGGIO

SCVBJ Contributing Writer

ecent experiences reminded me how important it is to get customer service right in your company, which all centers on attitude, behaviors, and actions! I had an air conditioning and vanity light issue with my 2021 car, still under warranty, and took it to the local dealer for service. I made an appointment online, showed up on time, and waited fifteen minutes to check-in. Several service people walked by, never acknowledging my presence until I cornered one of them and said I had an appointment to fix some issues with my car. The service representative was retrieved, and I explained the problems to her and told her I would wait instead of leaving the vehicle. She immediately told me they were way behind because of service technicians calling in sick and wasn’t sure my car would be ready in two hours. Forty-five minutes later, she returned with the good news that nothing was wrong with my car. I drove it off the lot and discovered the same issues I reported to her were wrong two hours ago and still existed. During work hours, I called the service department and found they use an answering service to screen their calls, and I could not get through to the service representative who checked my car in to tell her the technicians fixed nothing. I made an appointment for another day online with the same service representative, showed up on time, waited another fifteen minutes to be seen and told her the problems still existed. She stated how can they, all the codes they ran on the car showed no issues. Get me the service manager, I said. I explained everything to him and left my car for him to work on for the day. Four hours later, I picked up my car, the issues fixed and the diagnosis was recharging the freon and cleaning and adjusting the connector on the vanity light. Every company I associate with always

states customer service is essential to their operation. Often, you’ll find it as a value statement prominently displayed in the customer collection area. However, how much of it is lip service? Does your organization believe they serve the customer and do they demonstrate that through their attitudes, behaviors, and actions? I recently talked with a COO about a challenge with her employees. How do you get them to care about our clients, she lamented? I know my team cares. She went on; however, the clients just don’t experience it. Both management and leadership actions will address the challenges. From a management standpoint, do you have documented procedures and processes as part of a customer service system that eliminates their inconvenience and maximizes their delightfulness? The auto service department’s case starts with the customer dropping off their car. Are customers attended to immediately, and is the customer service representative courteous and caring? Upon a customer departing, do they check with the customer to see if their service exceeded the customer’s expectations and, if not, what can they do better. These skills can be trained during

the employee’s onboarding process and continuously coached throughout employment. From a leadership standpoint, are supervisors present and engaged with how their employees interact with customers? Are they observing, coaching, correcting, training, and reinforcing the philosophy we serve our customers? Are their attitudes, behaviors, and actions worthy of modeling? If the answer is no, customer service is not resident in the organizational culture. Leaders must care, be present and demonstrate serving customers is a company tenet. Employees model their supervisors’ and company leaders’ attitudes, behaviors, and actions which spawns the cultural climate that values serving customers. It was clear that the service supervisor rarely observed, coached, corrected and trained their service representatives at the dealership I patronize. I’m obligated to contact and express my disappointment and the inconvenience I experienced working with their team if I want to see them change. If my feedback goes unwelcomed and positive change doesn’t result, I’ll find a dealership service center where customer service is more than lip service. Poor customer service equates to low customer retention and referrals. Customers always vote with their feet. Serving customers must be a company tenet, and ensuring leader and employee attitudes, behaviors, and actions reflect the importance of this tenet is how you delight customers and earn their patronage. Do it well enough, and your customers become raving fans and serve as a referral source for your thriving business! This is how you lead, think, plan, and act. Now, let’s get after it! Retired Col. Paul A. Raggio is co-owner, with his sister Lisa, of One True North INC Leadership and Business Coaching Solutions. For more information, visit onetruenorthcoach.com. 

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Cinema Park is here for you!

We welcome these New Tenants to our Cinema Park Family:

Jewelry World

 Drawn2Art  Candle Corner  Senna Cosmetics  StoneFire Grill  bZen Organics CBD  Hand Rehab Pros  A Chorus Line

 Ross Morgan & Co.  Yeager Law, APC  Therapeutic Facials  Pilates Body Basics  Tranquility Salon & Spa  Alexander Villar, DDS  California Bank & Trust

Dancewear & Costumes

Thanks to The Signal for being here for us!

Perfect Tux

Karla Grgas, L.M.F.T.  Premier Hospice & Home Care  20/20 Optometric Eyecare  Massage w/Healing Touch  Circle One Hypnotherapy  Exodus Real Estate Services  Rimpco, Inc

Cinema Park

23300 Cinema Drive, Valencia

(Cinema Drive & Bouquet Canyon Rd) For Leasing Information, Please Call (661) 253-3344

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MALLS

Continued from page 11

of the local community — a place to share quality time with friends and family, not just wolf down a meal at the food court. The King of Prussia Mall, located 30 km from Philadelphia, has a Morton’s Steakhouse and Capital Grille. The Crystal Cove shopping center in Newport Beach has more than a dozen upscale restaurants, including Tamarind of London and Mastro’s Ocean Club. On the tenant mix front, innovative malls are strategically rethinking the types of stores that consumers will respond to. Anchor tenants that drive traffic are still key, but we also see a new emphasis on a curated mix of smaller stores that add a sense of novelty to the mall offering. Additionally, some malls are making greater use of temporary, flexible spaces that can accommodate different stores over time. Pop up stores, showroom spaces and kiosks provide customers with a sense of the unexpected and give them a reason to treasure hunt. Finally, malls are overcoming the commoditization problem by focusing on specific consumer segments and/or creating specific zones within the mall that allow consumers to find an area that caters to them. In the Dubai Mall, for instance, “Fashion Avenue” is an area dedicated to luxury brands and services tailored to the upscale customer, including a separate outside entrance and parking area. In the 7-story CentralWord mall in Bangkok, home décor is on the 5th level, technology on the 4th, and fashion appar-

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el on 1-3. This approach also represents a way for malls to ensure that customers don’t get lost inside the ever increasing square footage of malls. 2. Transforming the mall experience by leveraging technology and multichannel strategies. The digital transformation of retail is not all bad news for malls. On the contrary, it presents new opportunities for malls to engage consumers throughout their decision journeys. There are three primary ways in which malls are leveraging technology: First, they are extending their relationships with customers to before and after the mall visit. This is about engaging customers through compelling content and creating deeper bonds with them through social media and proprietary sites and apps, as well as loyalty programs. Social media can be used, for instance, to create buzz about new tenants or solicit ideas from consumers about ideas for new stores. One mall company has utilized segmented Facebook communication to speak to different communities, such as different geographies or interest groups or specific malls. Mall loyalty programs can provide the means for malls to establish a direct relationship with customers that goes beyond each visit to the mall, while allowing malls to collect precious information about customers. Just like retailers, malls should reach out to their customers with customized offers, gift ideas and other targeted advertisements based on real time intelligence and location-based marketing. While malls face the challenge

Malls are offering dining options beyond a food court experience.

of not having direct access to shopper purchase data, this can be overcome by inducing shoppers to use their smartphone to scan purchase receipts in exchange for points that can be redeemed for concerts tickets, books, discount vouchers for participating merchants, free parking or invitations to events (e.g., a fashion show). Alternatively, technologies such as face recognition, location-based mobile ads, and beacons are already being successfully applied in order to identify and establish targeted contact with repeat customers. Such technologies are also valuable for gathering consumer behavioral data from which malls can glean useful insights. Secondly, malls are using technology to transform mall usability as a means of improving customer satisfaction. There is ample opportunity for malls to decrease customer pain points, while simultaneously creating entirely new delight points. Technology, for instance, can be used to address one of the biggest challenges shoppers face at the mall — finding parking. Sensors located in parking lots detect how many spots are available on each level and give visual indi-

cators to drivers. Once within the mall, mobile apps can offer quick, easy guides to help shoppers find what they’re looking for at today’s increasingly large and multi-level malls. Thirdly, malls are utilizing digital capabilities to take the shopping experience to the next level. It critical for malls to take a more active role in shaping the shopping experience, either by acting more like retailers or by partnering with them. Mall players are experimenting with a variety of different business models to make this happen, but there are no certain winners yet. To introduce elements of e-commerce into the mall, Taubman partnered with Twentieth Century Fox to put virtual storefronts — “Fox Movie Mall” — in at least 18 luxury malls. There, shoppers can purchase movie tickets by scanning a QR code with their smartphone. As the barriers between online and offline blur, some mall operators are venturing into online with a complete virtual mall offering. In 2011, the Australian mall company Westfield launched an online mall (and later a mobile app) with 150 stores, 3,000 brands, and over 1 milSee SHOPPING, page 23

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Cinema Park is a Mixed-Use Center BY REENA NEWHALL Cinema Park

he concept of Cinema Park began almost thirty years ago in 1993 when a group of small business owners/entrepreneurs banded together to build their dream center. The building was a mixeduse project with retail on the first floor and offices on the second floor. Cinema Park prides itself on having a unique variety of noteworthy tenants who are considered leaders in their fields, namely StoneFire Grill, Tranquility Salon & Spa, 20/20 Optometric Eyecare, Alexander Villar DDS and A Chorus Line Dancewear & Costumes. We welcome three new tenants with great pride — Perfect Tux, Jewelry World, and Karla Grgas LMFT — to our Cinema Park Family. Perfect Tux was founded in 2016 by Steven Burton, who

worked in the formal wear industry for nine years. Fed up with lack of diversity and selection in the tuxedo industry, he established Perfect Tux online, and has served 26,000+ customers to date. His on-line success encouraged him to open his first retail showroom in Valencia. Perfect Tux was made for the gentleman who chooses to be fashionable, but desires his individual personality to shine through. Besides over 100 different styles for men, Perfect Tux also sells boys tuxedoes, suits, shoes and accessories. Pay a visit to Perfect Tux — you won’t be disappointed! Jewelry World may be new to Cinema Park, but not the business of jewelry. Jack Barian has been proprietor and head jeweler of Jewelry World for 40 years. Immigrated to Los Angeles as a teenager, discovered a passion for jewelry at a young age. His

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talents began to shape when he began working on custom pieces for clients, tailored to suit their every wish and fantasy. Along with his wife, Ani, Jack has run Jewelry World as a staple in Santa Clarita since 1985. With a new location at Cinema Park and a boutique environment created by their architect son, Kirk, Jewelry World is open for business. Specializing in custom design and repair, Jewelry World offers luxurious in-storeshopping for rings, pendants, watches and more. A familyrun business through-andthrough, Jack and Ani are proud to once again serve the SCV Community. Karla Grgas is a licensed marriage family therapist with

16-years’ experience, providing mental health therapy to children, teens, adult, families and couples. She’s a Santa Clarita native with over 10 years’ experience serving the community. She specializes in anxiety, depression, life transitions and gender-affirming care. She can help navigate parents through the local school system by collaborating with school staff to better support the child’s academic, behavioral, and emotional challenges. Karla Grgas offers a free, 15-minute consultation to prospective patients at (661) 714-8609. Cinema Park, Valencia is located at the intersection of Bouquet Canyon Road and Cinema Drive. 

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BACKER

Continued from page 7

actually did relate to land development. “Land is nothing but history.” Also of benefit was that he really likes people. “A big part of my work is people appreciation,” he said. “And I met a lot of great mentors while with Newhall Land.” He did, however, go on and get his MBA from Anderson School of Business at UCLA. Backer and JSB are active in the SCV community, supporting service and charitable organizations, the SCV Chamber of Commerce and SCV Economic Development Corporation. “I’m president of what has become the SCV Education Foundation, on the chamber board and EDC board, and one of those providing leadership for the Foundation for Children’s Dental Health. Fortunately (for the children), we got replaced by the State of California, which created an insurance program now designed to help low-income families receive dental care.” Backer has been deeply involved with William S Hart Baseball and Softball. “Two of my three kids played. I coached one in baseball and one in softball,” he said. “We (JSB), with my consultants, redid the canteen, the infrastructure, brought it up to speed. It was a great experience.” Backer said he has always been active with NorthPark Community Church, and that he and Glenn Adamick have helped other churches through their development processes. “Sometimes, people expect development to be easy. It isn’t,” he said. Backer noted that he’s watched the SCV grow tremendously over his years here, in population and size. “But when you are involved with the community, it’s a small place, still.”

A New Kind of Community

Backer and JSB believe in the SCV community as a whole, and also believe they are enhancing that community through Vista Canyon. “We had hundreds of community meetings, large and small,” he said. “We got great insights into what people wanted, and we’ve tried to incorporate that, along with meeting our obligations for access, etc.

Vista Canyon is a transit-oriented, mixed-use project with a town center. It is also one of the first new California communities to have its own onstie water reclamation plant. TOP PHOTO BY DAN WATSON / THE SIGNAL. LEFT SIGNAL FILE PHOTO

“We’ve tried to build something that the community will be proud of for many years to come. Vista Canyon is a transitoriented, mixed-use project with a town center (Lincoln Place) in the middle and a three-story elevation to give a home town, small town feel.” And, he added, “It’s car-optional, with lots of other transportation options — train, bus, bike, walking, even horseback riding, all of which are completed or in progress. And while we don’t have space to board horses, we do have a hitching post installed at the trailhead at Vista Canyon Park.” With its limited sprawl, “Vista Canyon is really an urban project in the suburbs,” Backer said. The master plan was created by Johnson Fain, which has an impressive portfolio, and the Gensler firm provided cutting edge architecture, such as operable windows, open space and high ceilings — “to make walking to the office in the morning exciting.”

Sustainability

When complete, Vista Canyon will have sustainable spaces for retail and restaurants, with solar panels, EV charging stations and drought-tolerant landscaping. There will also be a 200-room hotel with multiple meeting spaces. Existing residents occupy 245 single-

family, Energy-Star certified, KB-built homes, and 480 luxury apartments. Future plans include 117 senior apartments. “We have 725 of 1,100 living units already built,” Backer said, “and 96% of the finished apartments are already leased.” Most exciting and innovative will be the Vista Canyon Water Factory. “When we first envisioned the project, we worked with an environmental activist from Los Angeles,” Backer said. “She provided great insights and observations and recommended we have a water plant. We take the liquid portion of sewage and treat it three times. One-third of that clean output is used at Vista Canyon, via our purple pipe system, as reclaimed water (non-potable). The other two-thirds are sent offsite for non-potable use by SCV Water.” And he explained that the reclaimed water used by SCV Water replaces potable water that would be used otherwise. “The end result is a net-zero water use at Vista Canyon.” And he added that the water plant will get 20% to 25% of its power from solar panels. “We are proving it can work,” he said. “We are committed to sustainability.” For more on Vista Canyon visit www. vistacanyon.com. For more on JSB Development visit www.jsbdev.com. 

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SHOPPING

expressing themselves to varying degrees in different markets around the world, we believe they are relevant globally and should be taken to heart no matter where mall companies operate. There are three strategic considerations that players should understand when figuring out how to best react.

Continued from page 20

lion products. The company collects a small listing fee from merchants, as well as a commission of between 2030% on every sale. Driven by the knowledge that 60% of the 1.1 billion annual shoppers in its malls use mobile devices, Westfield also created a research lab located in San Francisco, with the mission of finding technology applications and services that can further enhance the retail experience for both shoppers and retailers. 3. Exploration of new formats and commercial real estate opportunities. The most innovative malls today look nothing like their predecessors. Although location remains the key real estate consideration for malls, a differentiated design and structure is increasingly important. Open air malls go a long ways toward lending an atmosphere of a town center, especially when they incorporate mixed use real estate. Many of the malls being built in urban areas are open and fully integrated with the landscape. . Incorporating environmental sustainability considerations, the mall is accessible by public transportation and features a rainwater harvesting system. Even malls that are enclosed are now incorporating more natural ambiance into their design, installing plants and trees, wood walls and floors, waterfalls, and lots of glass to let in natural lighting. Such elements help malls better blend in with their surroundings. It is critical that malls be about much more than stores. We see the mix of tenant/ public space moving from the

current 70/30 to 60/40, or even 50/50. When this happens, these expanded public spaces will need to be planned and programed over the year much like an exhibition. They will be managed more like content and media, instead of real estate. Mixed used developments offer consumers an attractive, integrated community in which to live, work and shop. They also serve to generate additional traffic for the malls while maximizing returns on invested capital. Other commercial real estate opportunities that can add alternative revenue streams are hotels, office buildings and airports. Lastly, outlets malls are an increasingly popular alternate format in more mature markets such as the U.S., particularly after the downturn of the economy, and they have been a key driver of growth for many players. In emerging economies like Brazil, outlets are also gaining attention and we see mall operators experimenting with this format as a means of attracting price conscious consumers and deal seekers.

Implications for Malls

Although these trends are

1. Evolve the offering by defining a clear value proposition for both consumers and retailers, anchoring it on deep consumer insights and bulletproof economics. Among the large universe of options for enhancing the customer experience, it is possible to identify initiatives that will be both ROI-positive and substantially boost the satisfaction customers have toward malls. To do this, mall players must first isolate and quantify the consumer touch points that are most responsible for driving satisfaction. Use these touch points to prioritize areas of investment and to design a cohesive customer experience program that will yield higher visit and/or spend rates, and ultimately greater consumer loyalty. 2. Increase productivity and efficiency of the current mall base through a strategic review of the tenant mix, taking into account consumer needs and retailer economics. This analysis should guide the management of rent pricing and overall commercial planning. On the cost front, the focus should be on strict management of direct and indirect costs, combined with operational efficiency, which is critical for successful customer experience transformations. 3. Think surgically about

where and how to grow in a way that won’t jeopardize returns. Focus on city clusters and regions that have distinctive opportunities for growth. This includes thinking purposefully about disciplined capex management and which formats are going to create the biggest impact, whether that’s traditional, multi-use, neighborhood or outlet. Executing against these considerations will often require that mall players develop new capabilities. Westfield, for example, has established a Digital Office group that reports to the CEO with the mission of spearheading digital initiatives across the organization. Other companies have created “customer experience” teams that are responsible for creating and integrating a unified vision of customer initiatives. Still others have created retail teams responsible for working on partnerships with retailers, or alternatively, operating retail operations themselves. The world of retail is changing dramatically, but the mall still can have a central role in urban and suburban societies. To avoid becoming what one chief executive calls a “historical anachronism – a sixtyyear aberration that no longer meets the public’s needs,” mall operators must expand their horizons of what a mall can be. They must envision themselves no longer as real estate brokers, but instead as customer-facing providers of shoppable entertainment. 

24 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

J U LY 2022

Property Value Decrease is Reviewable BY JEFF PRANG

Los Angeles County Assessor

here’s an important date that will allow property owners to file an application that may allow for a decrease in their property tax because of a decrease in the value of the very same property. The date is July 2nd and it’s for filing a Decline-in-Value Review. For those unaware of what a Decline-In-Value Review entails the following information should be helpful. Furthermore, the 2022 Decline-in-Value filing period is July 2, 2022, through November 30, 2022. Applications will be available beginning on July 2, 2022. For more information, visit: www. assessor.lacounty.gov/div California’s Proposition 13 established the base year value for property tax assessment. It also caps the growth of a property’s assessed value at no more than two percent a year unless the market value of a property falls below the base year value. In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “declinein-value.” A decline-in-value occurs when the current market value of a property is less than the current assessed value as of January 1. The office of the Assessor mailed more than 59,000 Decline-in-Value review notifications to property owners with existing reductions in 2021. Additionally, more than 1,400 Decline-in-Value re-

Filing Period is from July 2 through November 30.

view notifications were sent to commercial property owners. These commercial properties, likely impacted by the COVID-19 pandemic, were reviewed proactively by the Assessor for possible reductions in assessed value for 2021. You must file a Declinein-Value Review Application form (RP-87) with the Assessor between July 2 and November 30 for the fiscal year beginning on July 1. Applications are valid if postmarked by November 30. If November 30 falls on a Saturday, Sunday, or a legal holiday, an application is valid if either filed or postmarked by the next business day. You must demonstrate that on January 1, the market value of your property was less than its current assessed value. On your claim form, provide the Assessor with information that supports your opin-

ion that the market value for your property is less than the assessed value. The best supporting documentation is information on sales of comparable properties. You should select two comparable sales that sold as close to January 1 as possible, but no later than March 31. You may query the Assessor’s database for sales in your neighborhood by visiting the Property Assessment Information System. While the submission of comparable sales is helpful for the Assessor in determining the market value of your property, applications submitted without comparable sales will be accepted and processed. If the market value as of January 1 is less than the trended base value, your assessed value will be lowered to the market value for the fiscal year beginning on July 1. The ad-

justed value will be reflected on your annual tax bill. If the current market value is higher than the trended base value, no change in the assessed value will be made. Property owners are encouraged to review the Assessor’s website, assessor.lacounty. gov/div, for more information about Decline-in-Value and how property value is assessed. Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with 1,300 employees and provides the foundation for a property tax system that generates $17 billion annually. 

JOIN VIA NOW! With membership at the heart of the organization, creating value is an ongoing focus. Members receive special member rates for programs, training and events, and discounts on sponsorships at VIA-branded signature events. Perhaps more importantly, members can realize a competitive advantage in developing business within the area’s industrial centers. Since 1981, VIA has collaborated with regional organizations to form strategic partnerships that expand its focus and networking capabilities. By strengthening areas of influence, VIA, at times, has reached beyond the valley’s borders to create greater value for members.

UPCOMING EVENTS

25 JULY

16 AUG

VIA Cocktails & Conversation with Congressman Mike Garcia El Trocadero, 24274 Main Street, Santa Clarita, 6:00 p.m. Demystifying Cryptocurrency with Lisa Odom, Odom Law Group, CPLC, John Vance, Vance Wealth and Bob Jensen, KKAJ CPAs, (Hyatt Regency Valencia, 11:30 a.m.)

E ERGE LEADERS ON THE RISE

WANT TO INCREASE YOUR IMPACT AS A LEADER? GO BELOW THE WATERLINE.

VIA is proud to announce the launch of the 2022 Leadership Program, EMERGE: Leaders on the Rise. This annual dynamic, engaging and actionable program is offered to a select group of existing and emerging business and community leaders. This year, we surveyed your needs and you generously responded with topics you want to dive into and discuss with subject matter experts. This six-session program launches on August 12, and is limited to a maximum of 25 participants. DELIBERATE PLANNING PROCESS Speaker: Steve Youlios, President, JMSCV/Jersey Mike’s Subs THINKING OUTSIDE THE BOX Speaker: Ken Striplin, City Manager, City of Santa Clarita

DECISION MAKING/PROBLEM SOLVING Speaker: Omar Torres, Assistant Superintendent/Vice President of Instruction, College of the Canyons

NOV

HOW TO INFLUENCE OTHERS TO ACT Speaker: Cory Curties, Certified Professional & Personal Development Coach, GC Consulting, LLC

IDENTIFYING AND ASSIGNING RISK Speaker: Michelle Lambarena, Director-Leadership and Organizational Development/Patient Experience, Henry Mayo Newhall Hospital A LEADER IS ONE WHO KNOWS THE WAY, GOES THE WAY AND SHOWS THE WAY Speaker: Paul Raggio, Executive Development Facilitator, Leadership and Executive Business Coach, One True North VIA Members: $495 | Non-Members: $595 Sponsorships are available and range from $500 - $2500. Contact the VIA Office to reserve today! 661.294.8088 or by email: admin@via.org

SPONSOR SPOTLIGHT

American Family Funding

Your go-to for exceptional mortgage services American Family Funding, established in 1993, is a full-service mortgage firm with an experienced staff, offering knowledge in every area of mortgage lending, from purchasing and refinancing to veteran loans and reverse mortgages. Their mortgage professionals have access to a full range of resources, and all their mortgage consultants are dedicated to finding the right loan with the best rates, terms, and costs to meet their clients’ unique financial needs. “It’s now our pleasure to offer all of our exceptional mortgage services online. Through American Family Funding, you not only have access to the best loans available in the marketplace, but you can also review loan alternatives and even apply for your loan at your convenience online – 24 hours a day, 7 days a week. We look forward to serving all your mortgage and lending needs!”

A DVOCATE • E DUCATE • INNOVATE VIA - July 2022 BJ ad.indd 2

VI S I T VI A.O RG 7/5/22 1:41 PM

26 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

J U LY 2022

RETAIL

Continued from page 6

2. Modified in-store shopping experiences A consumer survey showed that 61% of consumers rely on physical stores being open for them to purchase the goods they and their families need (National Retail Federation, 2021). Thus, businesses need to put in place policies that could make customers safe to shop with them. And it looks like there are stores that have risen to the occasion. During the holiday shopping season, 70% of holiday consumers said that they felt safe while shopping. However, this may not be enough. Retailers need to elevate the experiences at their stores starting with technological changes like check-out free and touch-free shopping. This can make shoppers feel safer and accelerate the reduction of physical interaction. In line with that, spaces have to undergo redesigns to accommodate reduced physical exchanges. That includes the usage of mobile payment systems rather than static POS counters. Another improvement that stores could make would be to improve product displays. By doing so, businesses could focus more on the experiential aspect of

Omnichannel reality. Consumers no longer distinguish between online and offline shopping. They may start shopping in one and checkout in either. A Harvard Business Review report disclosed that 73% of shoppers used multiple channels to discover and buy products.

customers (ET Retail, 2020). 3. Rise of private labels A study from CB Insights revealed that private label sales are soaring. Private labels sell three times as much as branded products, which forces CPG manufacturers to rethink their strategy in the coming years. The biggest reason retailers have been going in-house in the last few years is because they earn an average of 25% more. Compare this to a typical 1.3% gross profit they get from a typical grocery item and it’s easy to see why private labels have become more mainstream. As a consequence, the retailer will also have leeway when it comes to pricing their

products competitively. And millennials are driving this growth (Frozen & Refrigerated Buyer). Private labels comprise 25% of a typical shopping cart, but a millennials would have 32%. 4. Deep retail Marketers have mined data from users’ smartphone and browser habits for years, but it will come to a head as the third decade of the millennium approaches. And this will happen because of artificial intelligence. With $156.5 billion revenue in 2020, it is poised to further climb to $300 billion in 2024, a 5-year compound annual growth rate (CAGR) of 17.1% (IDC, 2020). The figure could have been higher, but adjustments have to be made because of the lingering effects of the pandemic. This is not surprising, as studies show that AI adoption can save retailers $340 billion annually due to a more efficient supply chain (Capgemini). Retailers use AI for various applications. These include 2D/3D computer vision, natural language processing, AR and VR, sensor technology,

and robotics. It’s also a contributor to the development of a C2M (customer to manufacturing) business model, where companies use big data and AI insight to personalize the products for the individual consumer. In C2M, AI will have a more intimate view of the user and what they need more than the users themselves know. It will be in charge of a secure network that uses analytic tools, behavioral databases, algorithms and image recognition. It will combine it with technology from an IoT (Internet of Things) ecosystem to target the user’s consumption habits. Too dystopian? No worries—it will have a ton of regulations to limit the type and amount of data it can harvest. It will likely also need consent from the user. 5. Voice search and personal assistants The discussion of AI naturally dovetails with voice search and personal assistants. In the US alone, adult ownership of smart speakers and smart homes has reached 55.6% in 2020 (Voicebot.ai, 2020). See TRENDS, page 28

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J U LY 2022

Strike Two Against California’s Board Diversity Statutes BY CHRIS S. JACOBSEN Poole & Shaffery, LLO

n May 13, 2022, Los Angeles County Superior Court Judge Maureen DuffyLewis rendered a verdict in Crest v. Padilla, Case No. 19STCV27561, that California Corporations Code section 301.3 (also known as SB 826) mandating California-based public companies to add to their boards of directors one to three women directors (depending upon the size of the board) violated the equal protection clause of the state constitution. This verdict was California’s second defeat on statutes addressing diversity on public company boards of directors, following the April 1, 2022 striking down of Corporations Code section 301.4 (also known as AB 979) which sought to mandate board representation from certain underrepresented communities. SB 826 required each publicly held domestic or foreign corporation whose principal executive offices are located in California to have one female director on its board

of directors by the close of the 2019 calendar year and, no later than the close of the 2021 calendar year, a minimum of three female directors if the corporation’s board had six or more members, a minimum of two female directors if the corporation’s board had five members, and a minimum of one female director if the corporation’s board had four or fewer members. Violators of the statute were to be subject to fines of $100,000 for the first violation and $300,000 for a second or subsequent violation. In rendering its verdict, the court first noted that, under California law, classifications based on gender have long been considered “suspect” for purposes of equal protection analysis and that a meritorious claim under the equal protection clause must show that the state has adopted a classification that affects two or more “similarly situated” groups in an unequal matter. The court then noted that the plaintiffs had carried their burden to prove that men and women are similarly situated for purposes of SB

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826’s gender-based quota. As a result, the burden of proof shifted to the state to provide that SB 826 satisfies strict scrutiny. The state may appeal each of the rulings on SB 826 and AB 979 within 60 days after entry of their respective judgments. In addition, other pressure may come to bear on public companies to diversify their boards of directors. For example, Nasdaq has adopted a “comply or explain” board diversity rule, which establishes a “disclosurebased framework” that will require each Nasdaq-listed company (with specified exceptions) to have, or explain

why it does not have, at least two diverse board members, including at least one who self-identifies as female and at least one who self-identifies as an underrepresented minority or LGBTQ+. Accordingly, the issue of diversity on boards of directors is far from settled and continuing legal and societal developments should be expected for quite some time. Poole & Shaffery is located at 25350 Magic Mountain Parkway, Suite 250, Santa Clarita 91355. They can be reached at (855) 9977522 or www.pooleshaffery. com/#~3x4c645 

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TRENDS

Continued from page 26

And while Amazon’s 75% market share is still dominant with its Alexa interface, the coming ubiquity of voice searchenabled personal assistants like it will be a mainstay in the future. Even the figures today are eye-opening. Voice search now comprises 20% of Google searches, which should incentivize retailers in making their websites searchable through voice. In 2020, it is estimated that up to 30% of searches no longer used a screen and possibly used other technologies. Andrew Ng, the chief scientist at Baidu, even pegs this number at 50% (Perficient). 6. Instashopping Retailers should leverage social media’s 2.65 billion users for their social media toolkits and strategy. This is why social media giants are now testing ways to load payment information into the platform itself. Instagram is one of the first to do this, though it’s still experimental. In the coming years, social networks will now not only be places to discuss and keep up to date with your friends but for retailers to keep in touch with their user base. In fact, 60% of Instagram’s users (or 600 million of their total 1 billion users every month) already use the platform to find and purchase products. Adding a native payment system will expedite this process. 7. Omnichannel reality It’s 2019 and the term “omnichannel” is still bandied around in retail circles. This is simply because it’s the future of the retail industry. As already mentioned, consumers no longer distinguish between online and offline shopping. They may start shopping in one and checkout in either. A Harvard Business Review report disclosed that 73% of shoppers used multiple channels to discover and buy products. In the last few years, retailers have capitalized on this phenomenon by offering agile solutions for both online and physical retail. 2019 and beyond will demand more, however, as the rapidly maturing technologies of AR and VR can be used to augment the shopping expe-

rience in a given store. For example, AR can be used to preview items before actually buying them. This makes AR especially useful for furniture and clothing. 60% and 55% of retailers (ThinkMobiles), respectively, incorporate the technology into their purchasing process. Consumers demand the same experience and information they need whatever channel they use. Retailers shouldn’t differentiate between online and offline—their customers won’t. 8. The “Experience Economy” The traditional retail model of buying a product is so 20th century. Today, consumers want not only the product but also the act of the purchase itself. And while studies show that remodeling your store can benefit your bottom line, to survive in 2021 and beyond you need to look further into giving your customers a more engrossing experience. “Brands as a culture” had become more tangible in 2019. Big retailers like Ikea and Nike are all experimenting with small-format or concept stores. These stores offer a limited stock of items but provide pertinent services or curated content. Millennials (again) are the driving force behind these changes, but they’re only the spearhead of evolving consumer behavior across all contemporary generations. All in all, experience-related expenses have grown 6.3% in the period of 2014 to 2016. Material purchases grew only 1.6% in the same period (McKinsey). 9. By your powers combined Sustainability is not optional anymore, as far as consumers are concerned. A study from Unilever highlights the changing stance of consumers in this aspect. Twenty-one percent of consumers now report that they would prefer brands with an active environmental responsibility campaign. The retail trends report predicts that this about-face in terms of customer predilection represents $1.1 billion worth of untapped potential for packaging and sustainable practices. Consumers also detect facile environmental initiatives that are mere ad hoc campaigns. This is why most companies are now using sustainable and ethical

J U LY 2022

practices more closely aligned with their organization’s values. This allows them to commit to these campaigns more productively and for the long-term. Even government institutions (Forbes), at least on the state level in the United States, are jumping on the green bandwagon by banning single-use plastics. 10.Time is money Most retailers know that time is the biggest currency they have, so they use tools like fleet management software to automate their back-end and other administrative processes. What they’re just starting to realize is that consumers are also time-sensitive. For example, an Alix Partners study found that consumers are becoming more impatient with delivery times — from about 6 days in 2012 to just 4 days in 2018. Amazon Prime members are even more demanding — they want their items delivered in less than 4 days (AlixPartners)! What this means is that with the plethora of online retailers to choose from, customers abandon their (loaded) carts if the retailer doesn’t offer the shipping options they want. One in 4 retailers would rather pay slightly more than pay extra for shipping and 88% will pay more for sameday (PwC) or one-day delivery, after all. Differentiating your business from the crowd means going the extra mile to make your shipping fast, efficient, and free.

Prepare for What’s Ahead in the Retail Industry

Retail is a volatile industry and the rapid and widespread adoption of technology just makes it more so. Also, as the market becomes populated by a younger demographic, companies are finding it hard to abandon traditional modes of thinking. The “retail apocalypse” that has seen over 8,000 store closures is proof that businesses quickly need to adapt to a change in consumer behavior to survive. As a retail professional, knowing what’s in store for the industry gives you a leg up on your competition. It will also give you the insight to innovate in unforeseen gaps in the market that any industry shake-ups tend to do. 

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J U LY 2022

The List: C ommercial R eal E state I n T he SCV Brokerage

address

PHONE NUMBER

website

DAUM Commercial

28494 Westinghouse Pl, Suite 312, Valencia 91355

(661) 705-2299

daumcommercial.com/office/valencia

illi Commercial Real Estate

5990 Sepulveda Blvd. Suite 600, Sherman Oaks 91411

(818) 501-2212

illicre.com

Jones Lang LaSalle

2233 North Ontario Street, Suite 150 Burbank 91504

(818) 736-4440

www.us.jll.com/en/locations/west/los-angeles

NAI Capital

25060 Ave Stanford, Suite 165, Santa Clarita 91355

(661) 705 3550

naicapital.com

Pathview Capitol Inc.

25000 Avenue Stanford, Suite 244 Valencia 91355

(888) 6295682

pathviewcapital.com

RE/MAX of Santa Clarita - Crissman Commercial Services

25129 The Old Road, Suite #212 Santa Clarita 91381

(661) 295-9300

crissmancommercial.com

SCV Commercial Real Estate Services

27240 Turnberry Lane #200 Santa Clarita 91355

(661) 714-5271

scvcommercial.com

Spectrum Commercial Real Estate, Inc.

28392 Constellation Road Valencia 91355

(661) 306-9600

spectrumcre.com

Stratton International

28005 Smyth Dr Valencia 91355

(661) 702-9700

strattoninternational.com

The Franco Realty Group

23890 Copper Hill Drive #376 Valencia 91354

(310) 993-6920

gofrancorealty.com

Valleywide Leasing, Inc.

25152 Springfield Court Suite 120 Valencia 91355

(818) 471-4272

valleywideleasing.com

Grant Positions COC to Train Welders in New Technologies BY DR. DIANNE VAN HOOK Chancellor, College of the Canyons

s the growing economy continues to create a demand for skilled smart technology welders, College of the Canyons is poised to meet that need with the help of a new grant. COC received a $646,354 grant from the National Science Foundation (NSF) Advanced Technological Education (ATE) that will fund a Welding Education Smart Technology (WEST) program, which will launch in fall 2022. WEST will enable the college to create a pipeline of skilled welders ready to meet the demands of Industry 5.0 by aligning its curriculum to the same smart technology students will encounter in the today’s workforce. The project will help outfit the college’s existing welding technology lab with state-ofthe-art “smart” welding systems. Integrating smart technology platforms — paired with industry-recognized stackable certificates — into

the current program curriculum and instructional delivery will improve welding technology education for students. They will benefit higherquality training, including more hands-on training time, instant assessment of welds, and improved safety. As a result, local businesses will have access to a highly skilled workforce that is wellversed in existing welding smart technology right here in the Santa Clarita Valley. WEST is expected to serve 300 students during the grant period. Program graduates program will have the skills and training needed to hit the ground running when they are hired. Due to their high-quality training and skills, COC welding graduates have been hired by local employers such as RAH Industries, Senior Aerospace, SpaceX, and NASA JPL. According to the American Welding Society, the national median salary for welding jobs is $45,000 a year and projects that 336,000 new welding professionals will be needed by 2026. Building interest in welding as a career choice remains a top priority for College of the

Canyons. WEST will build on existing partnerships to establish foundational welding skills at the high school level and increase student enrollment, completion, and attainment of industry-related credentials. There will be an extensive effort to develop entry-level to advanced welding certifications to align with a variety of career paths that will serve to improve the marketability of students graduating from the program. The WEST program is important beyond the benefits it will deliver in welding. It serves to demonstrate that College of the Canyons is focused on staying ahead of change to ensure its programs and services meet

the needs of local industry and create opportunities for students to launch careers in expanding, high-paying fields. As local businesses adapt to and implement new technology, our college is committed to growing in its ability to meet the demands of our partners, and ensure that through innovation and collaboration, we keep companies competitive in their respective industries. Dr. Dianne Van Hook serves as chancellor of College of the Canyons. If you are interested in learning more about the COC welding technology program, please visit canyons. edu/welding. 

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J U LY 2022

Santa Clarita Stock Average

Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window of how our local company’s stocks are performing. Last month the index was 5,216.58 and the average price per share was $173.89 This month the index is 2,868.70 down 156.68 or 3.3% ( adjusted for a 20 to 1 stock split by Amazon) for an average share price of $95.62.

Company

industry

ticker

JUNE 1

JULY 5

Amazon

Retail

NASDAQ: AMZN

2,315.00

109.56 *

Bank of Southern California

Banking

OTC: BCAL

14.95

15.09

Bioventus

Biomedical

Nasdaq: BVS

9.62

7.11

Boston Scientific

Biomedical

NYSE: BSX

41.20

38.01

California Resources Corp.

Energy

NYSE: CRC

45.20

35.71

Carnival Corp.

Entertainment/leisure

NYSE: CCL

13.97

8.82

CBRE

Commercial real estate

NYSE: CBRE

84.05

75.69

Costco

Retail

NASDAQ: COST

470.76

485.76

Disney

Entertainment media

NYSE: DIS

109.42

96.14

Five Point Holdings

Home developer

NYSE: FPH

4.99

3.98

IQVIA holdings

Laboratory services

NYSE: IQV

220.50

215.05

ITT inc.

Aerospace/manufacturing

NYSE: ITT

72.99

67.50

KB Homes

Home developer

NYSE: KBH

34.81

29.65

Otsuka Pharmaceutical

Pharmaceutical

OTCMKTS: OTSKY

17.20

18.01

Quest Diagnostics

Laboratory services

NYSE: DGX

145.39

136.68

Six Flags

Entertainment/leisure

NYSE: SIX

30.03

23.04

Sodexo

Home/food services

OTCMKTS: SDXAY

15.41

14.71

Sonova Holdings

Biomedical equipment

OTCMKTS: SONVY

71.38

81.68

Tri Pointe Homes

Home developer

NYSE: TPH

21.43

17.67

Walmart

Retail

NYSE: WMT

128.48

111.63

Woodward

Aerospace/Manufacturing

NASDAQ: WWD

102.24

93.48

Auto Nation

Auto Dealers

NY: AN

122.13

114.81

Boeing

Aerospace

NY: BA

132.23

139.84

Comcast

Communications

NY: CMCSA

44.16

40.29

Home Depot

Retail

NY: HD

308.46

279.08

Kohl's

Retail

NY: KSS

41.87

28.68

Lennar

Home Builder

NY: LEN

81.17

74.60

Lowes

Retail

NY: LOW

199.63

177.36

McDonalds

Restaurants

NY: MCD

251.87

252.96

Textron

Industrial

NY: TXT

66.04

61.11

* Reflects the price after a 20 to 1 stock split.

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J U LY 2022

Economic Development Corporation 26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org

How Economic Development Improves Our Community – An Adept Fasteners Case Study BY HOLLY SCHROEDER

Solution

President and CEO of the Santa Clarita Valley Economic Development Corp.

dept was operating in two buildings that had become very overcrowded due to company growth and was experiencing inefficiencies in warehouse and office productivity with inventory, orders and employees traveling between the two buildings. The company has an employee-centric culture with very low turnover for its industry. The work environment did not meet the high standards set for itself relative to its employees. Adept needed a new facility to sustain growth, efficiency, and employee needs.

Competition

Adept supports a global supply chain and has facilities in other locations, including Arlington, Texas. They had the option to establish several smaller locations near customers or expand their footprint in Texas as an alternative to remaining in SCV, even though more than 51% of their employees live here.

Instead of looking outside of SCV, Adept chose to secure a prime land parcel on Hancock Parkway in the Valencia Commerce Center to build a custom facility suited to their needs, for both today and for their future growth plans. Creating a pleasing environment for all employees while making a great first impression to its customers was a prime consideration in the facility’s design and utilizing advanced technology to maximize efficiencies. Adept assembled their “A-Team” to bring their vision to reality including: Keane Constructors, Inc.: General Contractor Olander Design Studio: Building Design and Construction Documents Innerspace Systems, Inc.: Interior Design and Furnishings Image Factor, Inc.: Architectural Signage and Fabrication

Results

Their state-of-the-art new facility opened amidst the COVID-19 pandemic. Every aspect of the design reflects the company’s commitment to its corporate culture of valuing and caretaking their

employees, as well as the global customer base they serve. Conveyor belt automation systems reduce physical labor requirements and new inventory management solutions deliver vast improvements in order processing, increasing customer satisfaction in justin-time fulfillment. Adept prioritized and invested in creating an aesthetically attractive and highly functional workplace. Team meeting rooms, spacious layout, and special amenities such as a fully appointed gym, cafeteria, wellness rooms, and outdoor eating areas make Adept an attractive employer, and employee retention rate remains high. Adept’s new facility embodies their company tagline: “Our People Make The Difference.”

SCVEDC partners with the City, the County of Los Angeles, COC and local business leaders to comprehensively approach economic development for the entire valley, bringing quality jobs and economic resilience to Santa Clarita.

For more information, contact the SCVEDC at SCVEDC.org or call (661) 2884400. 

Econo Watch Santa Clarita Valley Q1 2022 Q4 2021 Commercial Vacancy Rates Office Space 22.7% 22.10% Industrial Space 1.10% 1.80% Total Marked Sq. Ft. Vacancy Percentage: Office Space - as a % of Vacancy Industrial Space - as a % of Vacancy

10.14% 89.86%

Building Permits

New Commercial/Industrial Building Permits Commercial Tenent Improvements/Alterations

Local Company Stock Prices California Resources Corp (CRC) Carnival Corp. (CCL) FivePoint (FPH) Mission Valley Bank (MVLY) Six Flags * (SIX)

May ’22 43.67 13.88 4.86 13.99 29.35

Q1 2022 Sq Ft 2,843,265 25,203,813 28,047,078

9.97% 90.03%

May ’22 2 21

Apr ‘22 40.21 17.3 5.85 14.8 38.27

N/A N/A

Apr ‘22 May ’21 1 31

% Change 8.60% -19.77% -16.92% -5.47% -23.31%

4 31

Woodward (WWD)

101.61

110.48

-8.03%

Unemployment Rates Santa Clarita Palmdale Lancaster Glendale Los Angeles County State

May ’22

Apr ‘22 % Change

4.2% 6.7% 6.9% 4.3% 4.5% 4.3%

4.4% 7.0% 7.3% 4.5% 4.7% 4.6%

-4.55% -4.29% -5.48% -4.44% -4.26% -6.52%

Housing Stats SCV Average Home Price SCV Average Condo Price SCV Home Sales SCV Condo Sales SCV Avg. # of Days on Market (SF) SCV Single Family Home Inventory

May ’22 944,400

Apr ‘22 977,300

May ’21 837,100

619,500 943 359 34 276

577,500 759 280 34 248

532,100 1,156 456 35 270

WHERE LAW MEETS BUSINESS The attorneys at Poole Shaffery understand the importance of every legal detail, so you can focus on doing what you do best: Running a successful business. ■

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Chris Jacobsen

Partner, Poole Shaffery

Call 661-290-2991 today for more information!

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