Submarket Snapshot: Sherman Oaks’ office market in Q1 2016
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.