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2021 Q2 San Fernando Valley and Ventura County Office Research Report

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San Fernando Valley and Ventura County Office Overview

• San Fernando Valley & Ventura County overall vacancy increased by 50 basis points over the quarter to 18%.
• The sublease availability of 1.5% has remained
unchanged from Q1 2021 but has tripled from one year ago.
• Overall average asking rates have been flat over the past year with the highest increase in West San Fernando Valley and West Ventura.
• Year-to-date leasing reached 744,516 SF, falling short of the activity recorded at mid-year 2020 by 26.3%.
• Major projects include the redevelopment of Warner Corporate Park and the Westfield Promenade 2035, which would bring a combined 1.7 MSF of office space to the West San Fernando Valley.

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2021 Q2 San Fernando Valley and Ventura County Office Research Report

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