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September 26
1876 - California oil industry born as CSO No. 4 in Pico Canyon becomes state's first commercially productive oil well [story]
Pico No. 4


Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced Wednesday that the firm has been awarded the listing of the 12.60-acre former Kmart-anchored shopping center property located in the heart of Santa Clarita, California.

The property is located at 23126-23170 Valencia Blvd., at the busiest intersection in Santa Clarita, Valencia Boulevard and Bouquet Canyon Road, known to locals as Bouquet Junction, which is crossed by 100,000 cars per day.

The site currently houses a 120,559-square-foot shopping center built in 1972. A Taco Bell restaurant is located on a single-tenant out parcel as part of the offering.

The property, owned by a private family, is situated within the MXC Mixed-Use zoning corridor of Santa Clarita, which allows up to 30.0 units per acre for residential with ground-floor commercial (1.0 max for floor area ratio (FAR) commercial), according to Hanley Investment Group.

Executive Vice President Carlos Lopez and Vice President Lee Csenar are the exclusive listing agents and are marketing the property for sale unpriced.

“The offering provides a buyer with the rare opportunity to purchase a development site of this size within the core of Santa Clarita,” Lopez said.

“Due to the short-term nature of the leases in place and the mixed-use zoning, there is tremendous flexibility and the potential to be creative for potential developers and the city of Santa Clarita,” he said. “For example, the property could be developed as 100 percent retail or a combination of retail and residential.”

“All existing leases will expire by 2024 (except Taco Bell’s lease), allowing an investor to collect annual cash flow while obtaining entitlements,” Csenar said. “Taco Bell’s lease expires in 2032, which allows an investor to individually parcel and potentially sell it separately to take advantage of historically low cap rates.”

The property benefits from being located near entertainment, employment, education, shopping and dining options including Westfield Valencia Town Center, which has more than one million square feet, 200 stores, and two outdoor shopping districts.

College of the Canyons, a 153-acre community college with 17,150 student enrollments, and California Institute of the Arts, a private arts college known as CalArts with 1,500 student enrollments, are also nearby.

The property is also convenient to Henry Mayo Newhall Hospital, a 238-bed hospital and trauma center and one of Santa Clarita’s largest employers with 1,948 employees, and Six Flags Magic Mountain, the top employer in Santa Clarita with 3,200 employees and four million visitors annually.

Valencia Auto Center, one of California’s largest auto centers with 24 brands serving the Santa Clarita Valley, Thousand Oaks, and nearby Los Angeles cities, is less than a mile away.

“Santa Clarita is one of the fastest-growing communities in the region with approximately 215,000 residents within a five-mile radius of the property and has an average household income of $121,000 within a one-mile radius,” Lopez said.

“In 2017, the city of Santa Clarita issued 5,782 permits for more than $365 million of new construction. Santa Clarita is strategically positioned with proximity to the San Fernando Valley, Downtown LA, Burbank Airport, and LAX,” he said.

“Santa Clarita has the tightest real estate market in Los Angeles County with the lowest vacancy rates in apartments, commercial space, and industrial space,” Csenar said.

The city of Santa Clarita has consistently garnered a variety of honors including being ranked #20 (out of 550 cities) as one of “America’s 50 Best Places to Live” by Wall Street 24/7 based on employment growth, access to restaurants and attractions, and housing affordability, and one of the Top 100 Safest Cities in America by the National Council for Home Safety and Security.

Among cities with a population size of 200,000 or more, Santa Clarita ranked as the third safest city in America last year. The city has also consistently ranked as one of the top Business-Friendly Cities by the Los Angeles County Economic Development Corporation and is ranked #21 in California for the most retail spending at over $2 billion ranking higher than Beverly Hills, Pasadena and Burbank.

About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $6 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visitwww.hanleyinvestment.com.

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156 Comments

  1. Amy Miller it’s finally happening

  2. I hope they make it a Walmart.

  3. that sucks , now more people will lose there jogs

  4. Bring back El Pollo Loco please!

  5. Jeanne says:

    Good. It seems this corner has been under-serving the SCV for a long time. Something else should have been built in the parking area for K-Mart.

    The city should get involved like they did in Newhall and make sure this corner makes a STATEMENT! This will make or break this area.

    Make it nice and fun please!!

  6. Drive In movie theater, but no doubt it will be more houses.

  7. Jeanne says:

    This might be the location COSTCO was looking for although that’s not what I want. It better not just be a grocery store! We need something nice there.
    NO WALMART!! NO MORE 99 STORES! No discount retail!

  8. How about a Living Spaces furniture store?

  9. Nada Quinn Nada Quinn says:

    Let me guess, 3 Starbucks’?

  10. Maybe they will bring back Tim Toms…. omg I miss that place. Caddy corner lot but I’ll take it! 😂

  11. Kamil Ellias Kamil Ellias says:

    How about all the above in one place ?

  12. Great! Just what we need…….more residential property…ugh!!!!

  13. Bye k mart…..hello H🦉🦉ters !!!

  14. I read somewhere they were trying to make it part of the sale that a piece be allocated to a full time homeless shelter to help the people in the wash.

  15. Betty Martin Betty Martin says:

    Include a Tommy’s Burger!

  16. AJ Yarbrough AJ Yarbrough says:

    Joser Romo let’s buy it

  17. Isn’t it already that Furniture store?

  18. El Taurino Mexican Food. Yummy.

  19. Wil Navarro Wil Navarro says:

    I heard theyll board it up and it’ll be a holding center for kids split from undocumenteds crossing the border.

  20. Shakeys or a David busters!

  21. Mark Lopez Mark Lopez says:

    Build a museum of K-Mart. 😂😂😂

  22. Jessica Frank !!!!!!! Finally!

  23. Oscar Lopez Oscar Lopez says:

    Dames and games would be great for the community

  24. DAVE says:

    No more frickin condos or apartments!!!!

  25. Vallarta or la Cocina

  26. Finally!!!!!!!! Mine!

  27. Bring back hometown buffet!!!

  28. Lou Korell Lou Korell says:

    Great! I’ll take it! Oh, wait, how much?

  29. Vicky Ridgway Satalino

  30. But don’t touch Western Bagel!

  31. 12.5 acres? That could become anything. The Grove in LA is 13.2 acres. Hopefully whoever buys it resists building out residential and instead brings the kind of up scale retail the SCV has been hankering for.

  32. Yeah! That corner needs tho be great again. The city should extend the Railroad name to bring back 4 corners.

  33. Starbucks! There is one just a block north but it might be too far to drive for some people. 🤣

  34. Western bagel is my favorite restaurant in the SCV!!

  35. Let me bet it’ll be 1500 new apartments and guess Cars and Coffee will have to find a new location

  36. Deann Young Deann Young says:

    Location, location, location!

  37. Frys Electronics Store !

  38. Good bye Santa Clarita

  39. Better not mess with my Western Bagel!

  40. Jami Riley Jami Riley says:

    Roller skating rink!!!!

  41. David Green David Green says:

    A Fry’s electronics

  42. Can i be adopted by the family?

  43. Ed Ruiz says:

    What about something like the Westfield Century City Mall, the look of course. Something sophisticated, amazing stores, a work or design area for all of the SVC entrepreneurs. You always need to get away from your home every once in a while. Good Resturants!
    SVC needs to have all of this to become the center of point of the future, we need in house (SVC) luxury. Of course this is just an option.

  44. We need iPic Theaters ! 😩

  45. Ed Ruiz says:

    What about something like the Westfield Century City Mall, the look of course. Something sophisticated, amazing stores, a work or design area for all of the SVC entrepreneurs.

  46. Ed Ruiz says:

    You always need to get away from your home every once in a while. Good Resturants!
    SVC needs to have all of this to become the center of point of the future, we need in house (SVC) luxury. Of course this is just an option.

  47. Apryl Levine Apryl Levine says:

    Bring back Carpeteria!

  48. Lora Hill Lora Hill says:

    Hopefully they can build it up, that one center looks old and outdated!

  49. Maybe it will turn into a giant grow operation and dispensary providing the citizens of Santa Clarita with a surplus of tax revenue….

  50. Its going to be businesses with apartments on top

  51. Shawn Klein Shawn Klein says:

    Seems like prime location for a Bass Pro Shop.

  52. Matt Winner Matt Winner says:

    They need mixed use up there !!!

  53. A music store or a Marshall’s.

  54. I’ll miss jumping my truck on the famous entrance as well as doing burnouts with my buds!!!!

  55. I read somewhere that it may be a mixed-use place. Apartments up top, retail on the first floor

  56. Carlos Cruz Carlos Cruz says:

    How is this sad? This place is a ghost town.

  57. Jeanne says:

    They should call it the 4 corners since it is still called that by locals. Maybe some greenery too to help compensate for the 3 gas stations.

  58. So Cal Guy says:

    Walmart and La Cocina…LOL Because three of each is not enough. The Bass Pro and Portos is cool. Maybe a Raising Canes? Looking forward to seeing what the city will actually allow and approve. This corner is long overdue for a makeover.

  59. Jeanne says:

    If there had been lots of city events in the parking lot of KMART the store would have done better. Should have had more small summer carnivals, farmers market, maybe traveling ice skating rink in winter. The space has been wasted.

  60. Knowing Santa Clarita, they’ll build condos or apartments on it and charge rent no one can afford!!

  61. Cbrown says:

    How about a retail space that houses high paying jobs in the tech field. If we dont do that soon, I am afraid the homes are going to depreciate. I like speaking with the clerks at retail locations and most of them travel into the SCV from sylmar, palmdale and other places. People who can afford living here travel out of the City. With the thousands of homes that they are building, sooner or later people are going to realize it isnt worth it. I know my family are thinking about moving out of SCV. You can find comparable prices in other neighborhoods closer to the jobs that pay well, and enjoy your home, instead of spending most of the time on the road.

  62. Bring in fryes electronics kick best buy out of santa clarita

  63. Jeanne says:

    Cbrown the prices in other areas for nice homes with good schools and a clean town are much higher than SCV. Good value for the money here which is why people live here. Our kids take the retail jobs not valley kids for the most part.

  64. Jeanne says:

    I agree with Josette IKEA might be nice facing Soledad. And maybe a Benihana facing out to Cinema Drive.

  65. sounds like it would be a good investment Dominic Nunneri

  66. Cört Stëll Cört Stëll says:

    I buy my stogies from the cigar shop

  67. Richard Cohn…what about Coffee & Cars?

  68. Homeless shelter……come on democrats your time to show compassion….

  69. Brandon Cruz says:

    How about a new hospital, police station and civic center? The civic center is severely antiquated and it’s to dangerous to have a city this size with only one hospital and one police station. The city should by it.

    • SCVNews.com says:

      We’re in the process of building a new police station because the civic center is antiquated.

  70. MAY I SUGGEST THE CITY PURCHASE THE SPOT AND PUT IN AN EXPANDED DMV

Leave a Comment


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