Bisnow/Allen Matkins - San Fernando Valley - David L Solomon, CBRE

CBRE SVP David Solomon points to an abundance of medical-related uses in the Valencia and Santa Clarita markets, such as UCLA Healthcare's purchase of a 35k SF building in Valencia, and Kaiser's purchase of the 120k SF former US Borax HQ. In addition, Newhall Land's former HQ building sold to a medical group. He says in the last nine months, there's been 200k SF of absorption in Valencia. This trend is consistent with LA, where traditional, big companies aren't growing much and a lot of the demand has been from other uses coming in such as Equinox Fitness. Employers take note: When you start to add headcount, the Valley will be a great place to hire from because of its diverse labor base and housing stock from entry-level to executive.