Princess Cruises has renewed the lease for its headquarters location in Valencia Town Center, and has announced it will continue to be "home ported" in Santa Clarita.

Under the terms of the new lease, which includes approximately 270,000 square feet of office space in four buildings in the Town Center, the cruise line will remain based in Santa Clarita for at least the next 15 years.

"We're pleased to have worked out a long-term lease with our landlord, Invesco Real Estate, and we're thankful to the City of Santa Clarita for their support and commitment to a business-friendly environment, which was an important factor in our decision to remain based here," said Alan Buckelew, president and chief executive officer of Princess Cruises.

Princess is one of the largest private employers in the Santa Clarita Valley, with approximately 2,000 employees.

"One of the key reasons we located to Santa Clarita in the first place was the quality of life for our employees and we're happy this will continue. This decision also provides continued stability for our employees and will be welcome news to the retail tenants of the Town Center who will benefit from the customer base our employees provide for years to come," Buckelew added.

The cruise line has been based in Santa Clarita since 2001, when it moved its long-time headquarters from Century City. The establishment of a customer service center in the Town Center in 1998 preceded the move of its corporate office.