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
Monica Rodriguez orchestrated the nixing of a residential project set for the Verdugo Hills Golf Course (Credit: Google Maps, Wikipedia)

The threat of fire doomed this Tujunga resi project. Now the developer will sue

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

arrow_forward_ios
Loading...