Logix Federal Credit Union will break ground Oct. 26 on its new headquarters in the Valencia Commerce Center in the Santa Clarita Valley.
Construction of the building on 12 acres near where the 5 freeway meets state Route 126 will begin in January and be completed by the end of 2018.
Logix has been based in Burbank for nearly 80 years. It decided to relocate to Santa Clarita as the city is a fast-growing hub of business activity.
In an interview last year with the Business Journal, Chief Executive David Styler said the financial institution considered other options, including remodeling its current home at 2340 N. Hollywood Way. It also looked at other locations in Burbank and elsewhere in the San Fernando Valley, but couldn’t find space.
The new headquarters will total 170,000 square feet. Logix has about 350 employees at its Burbank headquarters, a number expected to grow to 500 by the time of the move. The new headquarters will have capacity for up to 800.
Logix was known as Lockheed Federal Credit Union until changing its name in 2012. Its Burbank headquarters comprises 75,000 square feet for offices and 6,000 square feet for its flagship branch.
Logix has four branches in the Santa Clarita area with plans to add more.