The Real Deal Los Angeles

Submarket Snapshot: Sherman Oaks’ office market in Q1 2016

Area saw pricier rent than Valley average

April 29, 2016 05:00PM
By Hannah Miet

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Map of LA

Los Angeles County (credit: Transwestern)

The Valley’s 2.47-million-square-foot Sherman Oaks office submarket saw 9.7 percent vacancy in the first quarter, according to a report by Transwestern.

It had the second-lowest vacancy rate in the SFV market, bested only by Encino.

Sherman Oaks saw 7,817 square feet of positive absorption and no construction.

Rent averaged $2.82 a square foot a month, pricier than the $2.40 Valley average.