North L. A. Region Shows Slight Office Vacancy Drop
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The northern Los Angeles commercial real estate market, which includes the San Fernando, Santa Clarita and Conejo valleys and part of Ventura County, saw office vacancies decline to 16.8% in the second quarter from 16.9% in the first quarter, according to a survey by the brokerage Cushman & Wakefield of California Inc.
The highest vacancy rate locally was reported in the west San Fernando Valley, which had a 21.1% rate of empty offices in the second quarter, up from 19% in the first three months of the year. The central Valley, which includes the Valencia-Newhall area, had a 16.7% vacancy rate, up from 15.7% in the first quarter.
The East Valley vacancy rate continued to tighten, to 12.8% from 15.2%.
The Simi and Conejo valleys had a 19.1% vacancy rate in the second quarter, down from 19.4%.
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