SAN FERNANDO VALLEY
Granada Hills, Lake View Terrace, Mission Hills, Pacoima, Porter Ranch, San Fernando, and Sylmar
Rent Rate
Leasing Activity SF
Vacant Available SF
SOURCE: CoStar
- DEALS LEASED 2021
- DEALS LEASED 2022
Leasing Market Overview
Comparing 2021 vs 2022“The Valley” is the king of retail lease volume and activity. However, CoStar data reports 2022Q4 to be the lowest volume of deals and square feet leased recorded. But let’s not ignore the more than healthy low vacancy (4.8%) and high occupancy rates (95.20%) that could result in such low activity.
Upcoming construction (166,917 SF) and a negative net absorption (31,611 SF) can provide retailers with opportunities to find space in this highly sought-after market. With updated retailers in the Northridge Fashion Center, The Village Woodland Hills, and The Vineyards at Porter Ranch, West San Fernando Valley will see higher activity in these areas.
SNAPSHOT OF LEASES SIGNED
| No. | Signed Date | Start Date | Address | SF Leased | Rent/SF/Mo | Months on Market | Leasing Rep Company | |
|---|---|---|---|---|---|---|---|---|
| 1 | Dec-22 | Feb-23 | 3575 Cahuenga Blvd Studio City | 8,624 | $35.40 | 30 Mos | Lee & Associates Commercial Re… | |
| 2 | Dec-22 | Jan-23 | 8155 Van Nuys Blvd Van Nuys | 317 | $102.20 | 13 Mos | Shomof Group | |
| 3 | Dec-22 | Jan-23 | 8155 Van Nuys Blvd Van Nuys | 317 | $113.56 | 13 Mos | Shomof Group | |
| 4 | Dec-22 | Jan-23 | 8155 Van Nuys Blvd Van Nuys | 339 | $138.05 | 13 Mos | Shomof Group | |
| 5 | Dec-22 | Jan-23 | 8155 Van Nuys Blvd Van Nuys | 339 | $138.05 | 13 Mos | Shomof Group | |
| 6 | Dec-22 | Jan-23 | 8155 Van NuysBlvd Van Nuys | 339 | $138.05 | 13 Mos | Shomof Group | |
| 7 | Dec-22 | Jan-23 | 19307-19327 Ventura Blvd Tarzana | 1,200 | $2.50 | 1 Mo | Walden Investments | |
| 8 | Dec-22 | Jan-23 | 12904-12936 Sherman Way North Hollywood | 1,000 | $3.50 | 2 Mos | Mos EMB Properties | |
| 9 | Dec-22 | Feb-23 | 15250 Ventura Blvd Sherman Oaks | 5,296 | 70 Mos | Douglas Emmett Management, LLC | ||
| 10 | Dec-22 | Dec-22 | 14855-14863 Sherman Way Van Nuys | 1,000 | CBM1 Inc | |||
| 11 | Dec-22 | Jan-23 | 18403-18405 Eddy St Northridge | 4,000 | $28.44 | 2 Mos | Lee & Associates | |
| 12 | Dec-22 | Jan-23 | 7256 Reseda Blvd Reseda | 4,500 | $21.00 | 13 Mos | Spectrum Commercial Real Estate | |
| 13 | Dec-22 | Jan-23 | 6411 Sepulveda Blvd Van Nuys | 852 | $27.00 | 26 Mos | JS Realty Co | |
| 14 | Dec-22 | Jan-23 | 6800 Balboa Blvd Van Nuys | 570 | 12 Mos | illi Commercial Real Estate | ||
| 15 | Dec-22 | Jan-23 | 12216 Ventura Blvd Studio City | 1,760 | $61.36 | 4 Mos | Harry Makarian | |
| 16 | Dec-22 | Jan-23 | 14622 Ventura Blvd Sherman Oaks | 1,100 | 10 Mos | Commercial Asset Group (CAG) | ||
| 17 | Dec-22 | Jan-23 | 11647-11669 Glenoaks Blvd Pacoima | 1200 | $21.24 | 5 Mos | Taft Plaza, LLC | |
| 18 | Dec-22 | Jan-23 | 21733-21841 Ventura Blvd Woodland Hills | 900 | 18 Mos | Retail Opportunity Investments Corp. | ||
| 19 | Dec-22 | Feb-23 | 21733-21841 Ventura Blvd Woodland Hills | 2,850 | 18 Mos | Retail Opportunity Investments Corp. | ||
| 20 | Dec-22 | Dec-22 | 9119-9167 Reseda Blvd Northridge | 1,185 | 4 Mos | Charles Dunn Real Estate Service… | ||
| 21 | Dec-22 | Jan-23 | 23331-23391 Mulholland Dr Woodland Hills | 1,200 | 29 Mos | Regency Centers | ||
SOURCE: CoStar