North L. A. Region Shows Slight Office Vacancy Drop

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%.