By Jack Stubbs
Santa Clarita, a city about 45 minutes north of Los Angeles, has another retail property up for sale. The 57,659 square foot Highridge Crossing Shopping Center is on the market for $26.45 million, or around $459 per square foot, according to the listing by CBRE, who is marketing the asset.
CBRE declined to provide comment about the property. The firm is marketing the property on behalf of its owner, an entity linked to HR Highridge LLC, according to public records.
Located at 28100-28194 Newhall Ranch Road, the six-building Highridge Crossing Shopping Center is 88 percent leased to tenants offering food, beverages, personal care, business products and financial and healthcare services. Some of the tenants included in the mix of regional and national chain names include Chase Bank, Office Depot, Starbucks, Wendy’s and Chipotle, among others.
Newhall Ranch Road is a major thoroughfare across the Santa Clarita Valley, which links California Highway 14 from the east to Interstate 5 in the west. The property is located at the intersection of Newhall Ranch Road and Copper Hill Drive, approximately two miles east of Interstate-5.
The center is located at the entrance to a prominent and fast-growing commercial, office, residential and recreational center serving the east side of the valley.
Additionally, the property is located across from the Valencia Industrial Center, an 1,100-acre, 11 million square foot master-planned mixed-use business park. This property is home to various high-tech, aerospace manufacturing and logistics companies including Advanced Bionics, Aerospace Dynamics International, Woodward and ATK Audiotek. Some of the other major tenants in the vicinity include Walmart Supercenter, The Home Depot, LA Fitness and Smart & Final Extra, a warehouse store company.
Other nearby amenities include Six Flags Magic Mountain amusement park, The Cube ice arena, the Santa Clarita Sports Center, and The Paseo Club – Santa Clarita’s Premier Fitness & Lifestyle Club, details CBRE’s flier.
Within a three-mile radius of the property, the population is approximately 75,000 residents and 25,000 households, with an average annual household income exceeding $165,000. The current population of the Santa Clarita Valley area is approximately 415,000 residents, which has grown about four percent annually since 2012, making Santa Clarita Valley among the fastest-growing municipal areas in Los Angeles County.
