The Real Deal Los Angeles

Submarket Snapshot: Western San Fernando Valley’s office market in Q1 2016

Are saw highest vacancy rate in Los Angeles County

April 15, 2016 05:00PM
By Hannah Miet

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Map of LA

Los Angeles County (credit: Transwestern)

Western San Fernando Valley saw 39.4 percent total office vacancy in the first quarter, according to a report by Transwestern. 

It saw more vacancy than any other submarket calculated in the report. The San Fernando Valley as a whole saw only 15.4 percent vacancy.

The Western edge of the Valley saw negative absorption of 6,000 square feet.

Average asking rent in the first quarter was $2.17, compared with $2.40 in the Valley at large.