Submarket Snapshot: West San Fernando Valley

Area sees vacancy decrease

TRD LOS ANGELES /
Feb.February 03, 2016 05:03 PM

The West San Fernando Valley office market saw total vacancy decrease in the fourth quarter to 14.8 percent, from 15.9 percent in the third, according to a report by Colliers International. Its vacancy rate was still higher than the San Fernando Valley total of 14.2 percent in the fourth quarter.

There are 138 office properties in the West submarket, out of the 229 buildings in all of the San Fernando Valley. The submarket has 14.8 million square feet of office space, which saw 219,600 square feet of leasing activity in the fourth quarter and a net absorption of 121,300 square feet.

Asking rent was an average of $2.19 a square foot a month, lower than the San Fernando Valley average of $2.22.


Related Articles

arrow_forward_ios
CEO of Public Storage Ronald L. Havner Jr. and the site in North Hollywood (Credit: Google Maps)

Public Storage is planning to nearly quadruple its space in North Hollywood

Optimus Properties, LLC cofounders Kamyar Shabani and K. Joseph Shabani and the building

Healthy investment: Optimus Properties buys medical office tower near $500M hospital expansion

SCI paid $32 million for 28 acres next to its Groman Eden Mortuary and Eden Memorial Park (Credit: iStock)

A death services provider outmaneuvered local developers to win this sprawling piece of raw land

Southland Regional Association of Realtors President Dan Tresierras and the San Fernando Valley (Credit: Wikipedia)

San Fernando Valley might be selling homes slowly, but prices just won’t stop rising

Councilmember Bob Blumenfield and Bothwell Ranch

Putting the squeeze on development: LA councilman opposes sale of orange grove

Prologis CEO Hamid Moghadam, NEP’s chief strategy officer Carrie Galvin, and the building

Broadcast production firm inks big lease at Prologis industrial center

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

arrow_forward_ios