Logix Federal Credit Union will host a groundbreaking ceremony for its new headquarters in Valencia on October 26 at Commerce Center Drive and Franklin Parkway.

Located near the junction of Interstate 5 and State Highway 126, construction on the new Logix headquarters will begin in January, with completion by late 2018. The building, which is being designed and built by St. Louis-based NewGround, will be approximately 170,000 square feet and will house more than 500 Logix employees at opening, and offer capacity for significant future expansion. CBRE Group, Inc., arranged the sale of the 12-acre vacant parcel in the Valencia Commerce Center in August of last year.

With four branches already in the area and plans to add more, Logix chose the Santa Clarita Valley after exploring multiple locations for its future headquarters. As a fast-growing hub of business development, Logix determined Santa Clarita Valley to be the best site for long-term growth while also offering its employees a great community and quality of life. Logix worked closely with the Santa Clarita Valley Economic Development Corporation, NewGround, and the CBRE Group, Inc., in selecting the site for the new building.

During its 79 years in Burbank, Logix has grown from a small credit union, serving employees of the Lockheed Aircraft Corporation, to an institution with more than 170,000 members and nearly $5 billion in assets. After 29 years in its current headquarters building in Burbank, the credit union needed a larger facility to accommodate its expanding employee population.

Logix will retain its Burbank facility, which will continue to house a flagship branch to serve local customers.