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2021 Q1 San Fernando Valley and Ventura County Office Research Report

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San Fernando Valley & Ventura County Key Takeaways

  • Overall vacancy is up in San Fernando Valley & Ventura County by 100 basis points over the quarter to 17.4%.
  • The sublease availability of 1.5% has tripled since one year ago and has now reached over 1 MSF.
  • Average asking rates are down by 1.9% year-over-year, with the largest decline in Central San Fernando Valley.
  • Conejo Valley dragged overall net absorption down for San Fernando Valley & Ventura County to an occupancy loss of 348,174 SF, marking the fifth consecutive quarter of negative absorption.
  • In East San Fernando Valley, a 400,000-SF campus containing a 331,000-SF office building is in the works at Universal Studios back lot.

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2021 Q1 San Fernando Valley and Ventura County Office Research Report

Download Report