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December 10, 2017
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SOUTHERN CALIFORNIA NEWS
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Work Finished on Initial Buildings at Valencia Industrial Project

10/27/17

Construction has been completed on the first phase of the new nine-building, 1.3 msf IAC Commerce Center in Valencia, one of the largest commercial projects in the region. The project is a development of IAC Properties.

Situated in North Los Angeles County, IAC Commerce Center is a master-planned, 116-acre business park, located adjacent to the Valencia Commerce Center and approximately one mile northwest of the I-5 and Hwy 126 interchange. As the three-building Phase1 is completed, two tenants -- Accurate Freight and Covercraft have already committed to the state-of-the-art project.

Covercraft, a manufacturer of exterior and interior automotive protection products, leased 64.7k sf and will use the space to manufacture and distribute premium vehicle covers and other custom-patterned products. CBREs Matt Dierckman represented the tenant.

Accurate Freight, represented by Yair Haimoff of NAI Capital, is a full-service transportation company active regionally and nationwide. The company leased 52k sf of space at 29115 Avenue Valley View.

The Phase 1 buildings vary from 93.6k sf to 187.5k sf in size, and the project also offers build-to-suits as large as 560k sf. CBREs Craig Peters and Doug Sonderegger are the leasing agents for the project. At IAC Properties, Michael Perlmutter, director of leasing, is the in-house person overseeing marketing.

We continue to receive a multitude of inquiries about this project from a wide range of companies, including manufacturers and national logistics and e-commerce firms, said Peters. The leading-edge building features and ideal location are stimulating a very high level of interest.

The project is surrounded by an established commercial market with more than 25 msf of industrial and office properties. The population within a 30-minute commute is nearly 5 million, including residents in the Santa Clarita Valley, San Fernando Valley and Antelope Valley.

Phase 1 is located adjacent to the planned community of Newhall Ranch, which will encompass more than 20,000 homes and 60,000 residents. It is surrounded by scores of restaurants and shops.




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