CBRE announces that construction has commenced on the Santa Clarita Commerce Center, a leading-edge industrial business park within the City of Santa Clarita. Developer, Covington Group, Inc., a privately held, Dallas based real estate development and investment company, named CBRE as the exclusive leasing and marketing agent for the project which broke ground on May 30.
CBRE’s Craig Peters is representing the developer in leasing and marketing the project.
The Santa Clarita Commerce Center will be comprised of four Class A industrial buildings totaling 430,407 square feet situated on 22.3 acres in a campus-like setting. Construction is scheduled to be completed in March/April 2025.
The Santa Clarita Valley submarket currently has no vacant newly built Class A industrial space and is home to many industries with expanding footprints including aerospace, artificial intelligence, manufacturing and entertainment. This project will provide much needed space for the extraordinary growth occurring in the Santa Clarita Valley.
The state-of-the-art and architecturally striking buildings to be constructed along Springbrook Avenue will include buildings of 40,110, 49,308, 78,467 and 262,522 square feet and will showcase premier features such as heavy power, clear heights of 32’ to 36’, ESFR fire sprinklers, abundant truck high loading with large truck courts and customizable office space.
The milestone was marked with an official groundbreaking ceremony hosted by Covington Group, Inc. Peters commenced the event’s speaker program with an overview of the new development. The event included remarks from elected officials and representatives from both city and state.
Jason Gibbs, councilmember for city of Santa Clarita, discussed the importance of new industrial space to attract businesses and Jey Wagner, President of the Santa Clarita Valley Economic Development Corporation, expressed the fit of these buildings for key industries such as entertainment, e-commerce and aerospace/defense.
Dana Whitmer, Chief Development Officer of Covington Group, closed the program expressing Covington Group’s excitement for the new project and appreciation for the cooperation from the city.
The site enjoys a strategic location within the city of Santa Clarita, one of the most business-friendly cities in Southern California and surrounded by a well-educated workforce and many amenities. The location provides excellent access to key destinations throughout the greater Los Angeles area, including Downtown, LAX and Burbank Airports and the ports of Los Angeles and Long Beach.
“We are pleased to begin construction on this new state-of-the art business park which will be a home to hundreds of jobs and have a significant economic impact on the city,” said Peters. “The city of Santa Clarita is a great place to do business and we look forward to this project’s positive impact in the community.”
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. Please visit the website at www.cbre.com.
Covington Group, with offices in Dallas and Newport Beach, Calif., is a privately owned, fully integrated real estate company specializing in the new construction and repositioning of industrial assets nationwide. Covington owns and manages 8.5 million square feet in various markets around the country, has constructed or redeveloped over 35 million square feet of commercial and industrial property and has developed over 10,000 acres of land in its 40-year history. Please visit the website at www.covingtongroupinc.com.
CBRE Group. Inc. and International Airport Centers, LLC. announced the wall tilting of the first phase of the new 1.3 million square-foot IAC Commerce Center in Valencia, California, one of the largest commercial projects in the region.
Santa Clarita-based premier protective glove manufacturer Mechanix Wear, Inc. has leased 93,735 square feet of space at IAC Commerce Center in Valencia, according to real estate company CBRE.
Santa Clarita Studios, an independent studio operator, has leased a 109,379 square-foot industrial building in Valencia, CBRE announced Wednesday.
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