Santa Clarita Innovation Park is Oxford’s First LA County Buy

Oxford Properties Group recently acquired the Santa Clarita Innovation Park (SCIP) for $133.5 million. A 14-building mixed-use business park on 118.5 acres, SCIP becomes Oxford’s first direct Los Angeles acquisition and its first direct acquisition in Los Angeles County. The transaction represents further momentum as Oxford continues to build out its West Coast presence in the U.S. and exercises on its priority of growing its life sciences and industrial businesses.

Complementing its global capital allocation strategy, where Oxford has increased weighting to the life sciences, industrial and residential sectors in recent years, SCIP is leased to a variety of industrial and life sciences tenants. The transaction also includes development rights to 40-plus acres within the campus.

Oxford will explore a range of development options as it determines how best to enhance the site.

“The acquisition of Santa Clarita Innovation Park and its additional development capacity uniquely provides us with flexibility to build on our convictions in a Los Angeles market with an overwhelming scarcity of infill developable land,” said Chad Remis, executive vice president, North America at Oxford Properties.

The sale of Santa Clarita Innovation Park was led by Newmark on behalf of funds managed by Oaktree Capital Management and Intertex Companies.