Glendale Commercial Vacancy Rate Falls

The vacancy rate for commercial office space in Glendale fell 2 percentage points, to 10%, in the three months ended Sept. 30, according to a report by Grubb & Ellis Commercial Real Estate Services.

Since the beginning of the year, the vacancy rate in Glendale has fallen more than 4 points, the report stated. More office space was leased in the area this year than in the three previous years combined, it said.

Total vacant square footage in the third quarter was 365,400, compared with 371,250 between April and June.

The report said occupied office space increased by 569,000 square feet in the third quarter, in large part because Carnation Co. moved into 300,000 square feet of office space in the company’s recently completed building on Brand Boulevard.

An additional 100,000 square feet of the building was occupied by Walt Disney Imagineering.

Other major leases signed in the third quarter included 43,000 square feet in the Koll Building and 35,000 square feet in the Glendale Corporate Center.