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Tuesday, Aug 16, 2022
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Santa Clarita Life Sciences Campus Sells

Toronto-based Oxford Properties has acquired a 14-building industrial park in Santa Clarita for $133.5 million.

According to reports, the Canadian firm has made its first investment in the Los Angeles market with the purchase of the 119-acre Southern California Innovation Park, located at 25134 Rye Canyon Loop, from seller Interex Companies and Oaktree Capital Management.  

The deal also includes the rights to build on 40 acres of undeveloped land approved for various types of zoned commercial uses.

Last month, L.A. firms Interex and Oaktree sold a 180,400-square-foot building at the site to Cantor Fitzgerald.

Southern California Innovation Park counts among its tenants Boston Scientific Corp, which leases 180,415 square feet; Alfred Mann Foundation; and Bioness. The campus is also adjacent to another life science and tech cluster at Rye Canyon Business Park.

Oxford has an interest in industrial and research and development assets. Earlier this year, the company purchased six life sciences buildings in the United States. Oxford’s parent entity, Ontario Municipal Employees Retirement System, acquired a 15-million-square-foot industrial portfolio comprised of 149 buildings from KKR last month.  

Santa Clarita has seen big industrial moves during the pandemic. In May, beverage manufacturer DrinkPak cemented an additional 400,000-square-foot lease at the Center at Needham Ranch, tripling its space at the industrial park to 572,419 square feet. The Center — a Trammell Crow and Clarion Partners partnership covering 850,000 square feet with a 725,000-square-foot second phase currently in development — is also where LA North Studios signed a five-year, 113,640-square-foot lease last November. Also last year, e-commerce leader Amazon.com Inc. fortified a huge Santa Clarita presence, taking on nearly 100,000 square feet at the Center as well another 155,700-square-foot lease at IAC Commerce Center.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.
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