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2021 Q3 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 70 basis points over the quarter to 18.7%.
  • While vacancies are up for most submarkets year over year, the overall vacancy rate in West Ventura decreased by 190 basis points to 16.5%.
  • Sublease availability has been increasing since Q2 2020 but has stayed flat at 3.7% over the quarter.
  • Rent growth was meager overall with slight year-over-year increases in Conejo and West San Fernando Valley.
  • Leasing activity of 539,391 SF in Q3 was the highest quarterly volume recorded since the pandemic.
  • Major projects include the redevelopment of Warner Corporate Park and the Westfield Promenade 2035, which would bring a combined 1.7M SF of office space to the West San Fernando Valley.

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2021 Q3 San Fernando Valley and Ventura County Office Research Report

Download Report