By Holly Schroeder
President & CEO of SCVEDC
In recent years, one of the biggest challenges to increasing the number of jobs in the Santa Clarita Valley has been a lack of available space.
Our industrial real estate vacancy rate dropped below 2 percent, and large contiguous office space was difficult to find.
Fortunately, several new construction projects are providin g needed new inventory to the 30 million square feet of business park space that already exists in the Santa Clarita Valley.
IAC Commerce Center has recently finished its first phase, which will be home to expanding SCV companies like Accurate Freight, Covercraft and Mechanixwear.
Ultimately, this industrial park will add 1.3 million square feet of industrial space.
Gateway V in the Valencia Commerce Center has constructed three new buildings, home to Dream Team Beaute and Vision Media. Adept Fasteners is constructing its new state-of-the art facility just down the street. In addition, new buildings are being constructed with space ranging from 5,000 square feet to 50,000 square feet and will be available in 2019.
At the Southern California Innovation Park, a new industrial building is in the works that will be approximately 136,000 square feet, but subdivisible into three individual units.
On the other side of town, the first phase of Needham Ranch is beginning to build new industrial buildings near Highway 14 and Newhall Avenue. This business park will ultimately include both industrial and office space, adding a whopping 4.2 million square feet to our existing inventory.
Up the freeway a bit, you can see the first office building at Vista Canyon under construction. This building will add approximately 60,000 square feet of office space with retail availability on the first floor. This building is the first of several buildings that will add nearly 1 million square feet of commercial space.
Collectively, these projects will add thousands of jobs in the Santa Clarita Valley over the next several years. They provide necessary space for companies looking to expand in Los Angeles County. SCVEDC exists to grow high quality jobs in the Santa Clarita Valley, and this new space is a welcome addition.
The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.