the sign of a Profitable Property

Market Report: Santa Clarita


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


  • Q1 - 2022
  • Q1 - 2023
  • Q1 - 2024

Leasing Market Overview


The leasing landscape in the Santa Clarita Valley retail submarket shows promising signs as vacancy rates have decreased to 4.3% compared to the previous year, indicating a tightening market. Notably, there has been a positive absorption of 130,000 SF, reflecting a healthy demand for retail spaces in the area. With rents currently hovering around $33.00/SF, a modest 1.5% increase over the past 12 months, tenants may find opportunities for favorable lease terms amid this evolving market.

Across various retail asset classes, vacancy rates vary, with power centers experiencing the highest vacancy at 8.5%, while malls report no vacancies. Interestingly, strip centers and neighborhood centers demonstrate resilience with lower vacancy rates of 6.0% and 1.6% respectively. Despite fluctuations in rental rates across different retail building types, the overall trend suggests a steady growth in rents over the past three years, outperforming the Los Angeles market average. This robust leasing activity, coupled with a consistent decline in vacancy rates, indicates a dynamic retail environment in Santa Clarita, offering both landlords and tenants ample opportunities for growth and stability in the foreseeable future.


No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Mar-24 Aug-24 18560 Via Princessa 1,585 2.25 43 Peter Lund Real Estate
2 Mar-24 Apr-24 26111 Bouquet Canyon Rd 682 3.00 5 Spectrum Commercial Real Estate…
3 Feb-24 Mar-24 23502-23504 Lyons Ave 1,367 2.10 31 Cushman & Wakefield
4 Feb-24 Mar-24 22800 Lyons Ave 541 2.05 3 RE/MAX of Santa Clarita
5 Feb-24 Mar-24 23120-23130 Lyons Ave 1,279 1.75 5 illi Commercial Real Estate
6 Feb-24 Mar-24 18333 Dolan Way 800 2.00 4 King George Enterprises
7 Jan-24 Mar-24 23744-23780 Newhall Ave 1,440 1.75 24 Lee & Associates, Lee & Associate…
8 Jan-24 Feb-24 23744-23780 Newhall Ave 1,440 1.75 24 Lee & Associates, Lee & Associate…
9 Jan-24 Feb-24 26477-26491 Golden Valley Rd 1,200 2.50 12 NAI Capital
10 Jan-24 Feb-24 24727 Railroad Ave 3,250 1.95 7 Compass Real Estate


Successful Client

illi Commercial Real Estate sits down with passionate restauranteur, Cesar Garcia, to discuss his new location for Papa Juan’s Baja Grill.

Papa Juan’s Baja Grill is a restaurant that has been delighting customers with its delicious, homemade recipes inspired by Baja cuisine. With 14 years of experience in the industry, the owner’s passion for food and dedication to customer service shines through.

Learn about his journey from cooking for friends and family to opening a food truck and brick-and-mortar location. Don’t miss the exciting news about the upcoming Northridge location and the owner’s other restaurant concepts.