Submarket Snapshot: Woodland Hills and Warner Center in Q1 2016

Woodland Hills and Warner Center, a 7.3 million-square-foot office submarket, saw 14 percent vacancy in the first quarter, according to a report by Transwestern. Its vacancy rate was lower than the 15.4 percent San Fernando Valley average.

Rent in Woodland Hills/Warner Center, however, was also lower: $2.35 a square foot a month, compared with the $2.40 Valley average.

The area saw 62,438 square feet of net absorption in the first quarter. No construction was completed.