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Saturday, Sep 30, 2023

Santa Clarita Valley

Office vacancy rose in the quarter to 17.5 percent – the highest rate in a year. Office tenants gave back almost 26,000 square feet, according to Colliers International data. Asking rents gained a penny to $2.68 a square foot.Main EventsCrowsnest Properties in Encino paid $24.4 million to buy 26235-26245 Technology Drive in the Valencia Technology Park. Seller of the 155,924-square-foot warehouse was L2H Properties in Valencia.

Developers Trammell Crow Co.

and Clarion Partners leased the 172,324-square-foot Building 2 at Center Needham Ranch to DrinkPak, a beverage manufacturer. Financial details of the seven-year lease were not disclosed.The 66,782-square-foot retail property Sierra Crest Center at 27125-27127 Sierra Highway in Santa Clarita sold for $9.9 million to Synergize Ventures in Danville.

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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