The Santa Clarita Valley’s booming entertainment industry continues to show signs of stability as two businesses secured locations in Valencia, CBRE officials announced this week.
Independent studio operator Santa Clarita Studios and Triscenic Studios, a full-service provider to the industry, each leased industrial buildings in the area.
Santa Clarita Studios expands
This month, Santa Clarita Studios signed a seven-year lease on a more than 100,000-square-foot industrial building at 28210 Avenue Stanford in the Valencia Industrial Center. CBRE represented the transaction.
The property, originally occupied by a printing company when first built in 1986, is now a renovated, high-image industrial space that sits within the 30-mile zone. Landlord and real estate investment firm Heitman LLC upgraded the property to feature 24-foot minimum clear height, 245 parking spaces with a large rear yard area and 3,000 amps of power — features that accommodate film production well.
The full-service, independent studio already offers 19 stages and competitive rental business in Valencia. Adding this new property “allows us to grow and serve businesses with the help of the city of Santa Clarita and residents. We offer full services, including stages, offices and post-production,” Mike DeLorenzo, president of the company, said Friday.
Santa Clarita Studios has provided its stages and operations to movie productions such as Disney’s “A Wrinkle in Time,” and television shows including “CSI: Crime Scene Investigation,” “S.W.A.T.,” “Future Man” and “Deadwood.”
Triscenic Studios, a newly formed entity of San Fernando-based Triscenic Production Services, will call a 142,392-square-foot building home after owner Vince Gervasi signed a lease for $7.7 million.
The property is at 25045 Avenue Tibbits and features more than 20 truck high-position doors, two ground-level loading doors and up to 30-foot minimum clearance. The building was once occupied by vitamin and nutritional supplements maker Pharmavite before it consolidated its Livingston Avenue and Avenue Tibbits facilities on Witherspoon Parkway in the Valencia Commerce Center in 2017.
Gervasi and his team formed Triscenic Studios and selected the Valencia property to “provide entertainment storage space and high-quality sound stages in a market with high demand and limited supply,” according to leasing agent CBRE in a news release Thursday.
Gervasi was unavailable for comment Friday.
“This property is the perfect fit for a company such as this that serves a thriving entertainment industry,” said Matt Dierckman of CBRE. “It sits in an entertainment-friendly city and offers a plethora of local amenities and excellent ceiling clearance, power, parking and office space.”
SCV industrial market and entertainment industry
The industrial market in Valencia continues to see strong demand, particularly among those in the entertainment industry.
A 2018 report by CBRE showed that industrial lease rates increased by more than 5 percent due to limited availability in the Los Angeles area and Triscenic Studio’s transaction was reported as one of the largest new industrial leases in the north L.A. region in the last 12 months.
When it comes to on-location filming, Santa Clarita has generated more than $33 million in economic impact to the local community as a result of a cluster of film productions and full-service businesses operating in the area. From July 2017 to June 2018, the city’s film office recorded 560 film permits and 1377 film days, a 2.8-percent increase in permits and nearly 9-percent rise in film days, as well as almost a 10-percent hike to the estimated fiscal impact, according to the film office.
“The City of Santa Clarita has been a desirable cost-alternative destination due to the Santa Clarita Valley’s extreme film-friendliness,” said Craig Peters in a statement, who represented Santa Clarita Studios in the transaction. “We’ve seen a surge of filming activity over the past few years, and we expect this trend to continue.”