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
- Q2 - 2021
- Q2 - 2022
- Q2 - 2023
Leasing Market Overview
MEASURING Q1 2023The retail submarket in the Santa Clarita Valley currently has a vacancy rate of 4.9%, showing a decrease of 0.3% over the last year. During this period, 47,000 square feet of space have been occupied, while 2,500 square feet of new space have been added. When accounting for sublease space, the total availability of retail space is 5.8% of the overall inventory.
Neighborhood Centers hold the largest share among the different types of retail spaces in this submarket, comprising approximately 5.8 million square feet.
The average rental rates for these retail spaces are approximately $32.00 per square foot, which reflects a 1.9% increase compared to a year ago. Over the past three years, rents have experienced a cumulative growth of 9.2%.
SNAPSHOT OF LEASES SIGNED
| No. | Signed Date | Start Date | Address | SF Leased | Rent/SF/Mo | Months on Market | Leasing Rep Company |
|---|---|---|---|---|---|---|---|
| 1 | Apr-23 | May-23 | 22620 Lyons Ave | 4,200 | 2.50 | 11 | Investment Properties |
| 2 | Apr-23 | May-23 | 26046 Bouquet Canyon Rd | 2,000 | 2.40 | 3 | Mark Shiva |
| 3 | Apr-23 | May-23 | 18917 Soledad Canyon Rd | 700 | 1.90 | 3 | RE/MAX of Santa Clarita |
| 4 | Apr-23 | Jul-23 | 23925-23961 Newhall Ranch Rd | 10,436 | 23 | NAI Capital | |
| 5 | May-23 | Jun-23 | 20655 Soledad Canyon Rd | 1,833 | 1.75 | 61 | Spectrum Commercial Real Estate |
| 6 | May-23 | Jun-23 | 22928-22946 Lyons Ave | 1,100 | 1.60 | 13 | AZUL |
| 7 | May-23 | Jun-23 | 22903-22921 Soledad Canyon Rd | 1,465 | 1.95 | 27 | NAI Capital |
| 8 | Jun-23 | Jul-23 | 19317-19415 Soledad Canyon Rd | 950 | 2.50 | 36 | illi Commercial Real Estate |
| 9 | Jun-23 | Jul-23 | 19317-19415 Soledad Canyon Rd | 1,500 | 2.25 | 30 | illi Commercial Real Estate |
| 10 | Jun-23 | Jul-23 | 23738-23742 Lyons Ave | 8,986 | 1.50 | 45 | RE/MAX of Santa Clarita |
SOURCE: CoStar