Ventura County Office Vacancies Dip Slightly
Ventura County had an office vacancy rate of 15% at the end of June, down from 16% three months before and from 27% in June, 1985, according to a survey by the Grubb & Ellis real estate firm.
Thad Seligman, sales manager in the Grubb & Ellis Ventura office, attributed the lower vacancy rate to an influx of new businesses and to growth in the area’s population.
Overall, the survey of 146 office buildings containing a total of 3.4 million square feet found 505,000 square feet of vacant space. The survey counted only buildings of 10,000 square feet or more.
Newbury Park had the highest vacancy rate, 26%, down from 30% three months before. Simi Valley, which only had two office buildings included in the survey, posted the lowest vacancy rate, 3%, down from 4% at the end of March.
Camarillo’s rate was 20%, down from 23% at the end of March; Westlake Village’s rate was 20%, down from 22%; Ventura’s rate was 13%, down from 15%; Thousand Oaks’ was 8%, down from 11%; and Oxnard’s was 7%, up from 4%.
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