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
8940 N Reseda Boulevard (Credit: Google Maps)

Developers eye Northridge site for 51-unit apartment complex

Developers eye Northridge site for 51-unit apartment complex
3M CEO Mike Roman and Altaris Capital Partners Principal Garikai Nyaruwata

N95 mask-maker 3M sells Northridge manufacturing plant

N95 mask-maker 3M sells Northridge manufacturing plant
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
The building at 8201 Woodley Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps)

Blackstone pays $83M for pair of industrial properties in Van Nuys

Blackstone pays $83M for pair of industrial properties in Van Nuys
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
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

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

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

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...