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2021 Q4 San Fernando Valley and Ventura Office Research Report

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2021 Q4 San Fernando Valley and Ventura Office Research Report

Key Takeaways

  • Market fundamentals improved in San Fernando Valley & Ventura County as overall vacancy decreased by 70 basis points over the quarter to 18%.
  • While direct vacancy decreased, sublease vacancy increased to 2.1%, representing nearly 700,00 SF of sublease space.
  • Much of the activity occured in Central San Fernando Valley with nearly 250,000 SF of new leasing in Q4, making up 40% of the market total.
  • Over 1.9M SF of leasing was recorded in 2021, outpacing the 1.8M SF in 2020 by 8.9%.
  • There was rent growth across all submarkets in San Fernando Valley & Ventura County, increasing the overall market average by 1.6% from one year ago.

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2021 Q4 San Fernando Valley and Ventura Office Research Report

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