the sign of a Profitable Property

Market Report: Santa Clarita

SANTA CLARITA VALLEY

Bridgeport, Canyon Country, Castaic, Cheyenne, Newhall, Santa Clarita Valley, Steveson Ranch, Valencia, Old Orchard, and more.

Rent Rate (sf/mo)

Leasing Activity SF

Vacant Available SF

SOURCE: CoStar 

  • Q4 - 2021
  • Q4 - 2022
  • Q4 - 2023

Leasing Market Overview

MEASURING Q4 2023

The retail submarket in Santa Clarita Valley currently experiences a vacancy rate of 4.4%, marking a 0.6% decrease over the last 12 months. Over this period, 83,000 SF has been absorbed, while no new spaces have been delivered. The total availability, inclusive of sublease space, accounts for 6.2% of the entire inventory. Notably, Neighborhood Centers represent the largest subtype, comprising 5.8 million SF.

Rental rates stand at approximately $2.75/SF, reflecting a 1.6% rise compared to the previous year. Over the past three years, there has been a cumulative 10.1% increase in rents.

SNAPSHOT OF LEASES SIGNED

No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Dec-23 Feb-24 25864 Tournament Rd 1,446 0.14 1 Spectrum Commercial Real Estate
2 Dec-23 Dec-23 23630-23638 Newhall Ave 1,000 1.90 8 RE/MAX of Santa Clarita
3 Nov-23 Dec-23 23120-23130 Lyons Ave 900 1.75 2 illi Commercial Real Estate
4 Nov-23 Dec-23 24777-24890 Apple St 200 1.75 11 Spectrum Commercial Real Estate
5 Nov-23 Mar-24 23404-23428 Lyons Ave 2,310 3.00 34 CBRE
6 Nov-23 Dec-23 23566 Lyons Ave 1,472 1.95 12 illi Commercial Real Estate
7 Nov-23 Dec-23 25269 The Old Rd 1,349 1.60 2 illi Commercial Real Estate
8 Oct-23 Nov-23 23510 Valencia Blvd 4,412 1.95 7 Spectrum Commercial Real Estate
9 Oct-23 Nov-23 28100-28150 Newhall Ranch Rd 1,091 2.75 40 Cushman & Wakefield
10 Oct-23 Nov-23 23404-23428 Lyons Ave 2,700 2.35 76 CBRE

SOURCE: CoStar 

Brokering Success

illi Commercial Real Estate sits down with accomplished broker, Xan Saks, to discuss a leasing deal between his client, Aldi, a supermarket chain, and illi-represented Canyon Center of Santa Clarita.

This interview delves into the intricacies of the deal, Aldi’s unique requirements, and the triumphant opening day of the store. It’s a compelling narrative of teamwork and success in the world of commercial real estate, showcasing remarkable achievements obtainable with collaboration.

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