Logix breaks ground on new headquarters
Logix Federal Credit Union has announced plans to move its headquarters from Burbank to Santa Clarita. It will also add a branch in Burbank.
Officials with Logix Federal Credit Union broke ground at the location of their new headquarters in Valencia last Wednesday.
The new corporate offices for the business, which started as the credit union for employees of the Lockheed Aircraft Corp. in 1937, will be located off the Golden State (5) Freeway at Commerce Center Drive and Franklin Parkway.
The 170,000-square-foot building will be built by St. Louis, Mo.-based NewGround, with construction starting early next year. Officials hope to have the building ready by late 2018.
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Logix announced last August that it would be leaving Burbank and moving to the Santa Clarita Valley as the need for expansion was necessary to allow the credit union to grow.
“Recent significant growth in the credit union’s assets, number of members and employees requires increased office capacity to maintain our service levels,” wrote Dave Styler, president and chief executive of Logix, in an email. “In fact, we recently leased more than 20,000 square feet in Burbank just to satisfy our space needs until the new headquarters is complete.”
Styler added that Logix already has a strong presence in the Santa Clarita Valley and that about 30% of the company’s employees live in that area.
Though Logix’s future headquarters will now be 30 miles away from its current offices at 2340 N. Hollywood Way, the credit union said in a statement that the Burbank location will house a flagship branch.
“To be clear, we have no plans to abandon Burbank, which has been our home since the credit union was founded in 1937,” Styler wrote. “We will retain our current headquarters building, which contains our largest and most active branch. The building will also house a second data center, regional training facilities and disaster recovery site.”
While the move to the Santa Clarita Valley made the most financial sense to company officials, they did look to see if they could stay in Burbank.
“Our preference was to stay in or near Burbank, to limit the impact on the majority of employees who currently work at our headquarters,” Styler wrote. “Unfortunately, we couldn’t find an ideal solution, either with existing buildings we could buy and refurbish or with land on which we could build.”
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Anthony Clark Carpio, anthonyclark.carpio@latimes.com
Twitter: @acocarpio
