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 · 31
M AY 2022
Economic Development Corporation 26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org
SCVEDC Honors ‘Power Brokers of 2021’ in Commercial Real Estate BY HOLLY SCHROEDER
To companies considering relocatPresident and CEO of the Santa Clarita ing to or expanding in the Santa Clarita Valley Economic Development Corp. Valley, as well as their brokers and site selectors, the SCVEDC team provides he Santa Clarita Valley Ecoconsultations and assessments that are nomic Development Corporation (SCVEDC) and the brokerage professional, unbiased and confidencommunity enjoy a natural partnership tial. Each year SCVEDC honors top comwith the common goal of attracting mercial real estate brokers active in businesses to the Santa Clarita Valley and helping growing companies already the Santa Clarita Valley at our annual Power Broker Breakfast. Along with located here expand into larger facilibrokers in attendance, civic leaders ties. and community representatives come When a company selects a new site out to celebrate the Power Brokers of location, they not only look at conthe Year as ranked by the Santa Clarita crete features such as space, facilities Valley Economic Development Corpoand growth opportunities, but also at ration. economic and demographic attributes The Power Brokers of 2021 represent such as the labor pool, population eight commercial real estate comcharacteristics, prevailing salaries and panies based both in and outside the educational resources. Santa Clarita Valley who represented SCVEDC provides authoritative data transactions in the SCV. by working with top researchers and The top brokers logged transacdata providers in the field of economic tions with a total footage of approxidevelopment. We not only release anmately 4M square feet. Their success nual forecasts and monthly updates, we also provide project-based regional reflects that the Santa Clarita Valley is a destination for a growing number data to help companies and brokers of businesses looking for land, modclose the deal.
T
ern facilities, and a business-friendly environment. In addition to the Power Brokers, SCVEDC also awarded “Transaction of the Year” to Oxford Properties and their purchase of Southern California Innovation Park. With an existing 14-building campus, situated on 118.5 acres of land, Oxford will begin immediately developing approximately 750k SF of new state-of-the-art soundstages. With the surge of film activity and demand for studio space at a premium, the addition of these 20 soundstages will help further solidify the Santa Clarita Valley as a premier filming location. To see the full list of our 2021 Power Brokers, look for our ad in last month’s issue of the Santa Clarita Valley Business Journal, or visit our websites blog at www.scvedc.org/blog . he SCVEDC team is proud to partner with the brokerage community to continue our mission of growing quality jobs in the Santa Clarita Valley.
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)
Mar ’22 44.73 20.22 6.11 15.15
Q1 2022 Sq Ft 2,843,265 25,203,813 28,047,078
9.97% 90.03%
Mar ’22 2 36
Feb ‘22 41.23 17.08 5.92 15.7
N/A N/A
Feb ‘22 Mar ’21 10 16
% Change 8.49% 18.38% 3.21% -3.50%
3 28
Six Flags * (SIX) Woodward (WWD)
43.5 124.91
43.66 121.95
-0.37% 2.43
Unemployment Rates Santa Clarita Palmdale Lancaster Glendale Los Angeles County State
Mar ’22
Feb ’22 % Change 5.6% 9.2% 9.3% 6.2% 6.1% 5.8%
-17.86% -19.57% -19.35% -20.97% -19.67% -15.52%
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
Mar ’22 915,600
Feb ‘ 22 898,800
Mar ’21 816,300
607,800 531 191 26 277
579,600 325 106 42 204
522,900 620 254 37 318
4.6% 7.4% 7.5% 4.9% 4.9% 4.9%
