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 2023The 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