San Fernando Valley Industrial and Office Q2 Market Reports

Industrial

Activity Is Light As Inventory Remains Extremely Constrained

Lack of spaces suited for today's manufacturing and warehousing needs has resulted in vacancies below 5%. Rates have modest increases by $.01 to $.61 per square foot per average quarter. Of 33 industrial buildings that sold the median price was $116 per square foot, up 13% from Q1.

Q2 2013 San Fernando Valley Industrial Market Report (Click Link For Report)

Office

Leasing Activity Weakens But Low Interest Rates Push Sales Velocity

Office spaces remain sluggish in Q2 with no significant changes from Q1. Vacany rates relatively unchanged at 17%, but better by .08% a year ago. Leasing activity are companies trading spaces in the area. Rent are up about $.03 from a year ago. There were 18 offices sales this quarter with a median sales price of $183 per square foot.

Q2 2013 San Fernando Valley Office Market Report (Clink Link For Report)

Carlton Plaza Office - Suite 204 -Woodland Hills Office Available For Lease

Woodland Hills Office Available for Lease - Eric Nishimoto - 818-223-4388 Lee & Associates - LA North/Ventura, Inc.
http://woodlandhillsoffice.com

https://www.facebook.com/woodlandhillsoffice

https://twitter.com/WHOfficeSpace

Suite 204 has 3 window offices(one large window office can be used as a conference room), 1 interior office, filing area with built in cabinets, work station area/bull pen with natural light from large window, reception room and private waiting area.

Carlton Plaza is located at 20750 Ventura Blvd., Woodland Hills. Directly across the street from Target near DeSoto and Ventura Boulevard.

Servicing the Los Angeles County & Ventura County and surrounding areas of the San Fernando Valley & Conejo Valley: Chatsworth, Canoga Park, Winnetka, West Hills, Woodland Hills, Warner Center, Reseda, Van Nuys, Granada Hills, North Hills, Northridge, Porter Ranch, Tarzana, Encino, Sherman Oaks, Valley Village, Studio City, Lake View Terrace, Lake Balboa, Shadow Hills, Sun Valley, Sunland, Tujunga, Toluca Lake, Valley Glen, North Hollywood, Sylmar, Van Nuys, San Fernando, Arleta, Panorama City, Pacoima, Burbank, Glendale, Hidden Hills, Calabasas, Agoura Hills, Westlake Village, Newberry Park, Thousand Oaks, Oak Park.

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AMC WOODLAND HILLS, CARLTON PLAZA, COMMERCIAL REAL ESTATE, ERIC NISHIMOTO, INSURANCE, LEASE OFFICE, LEASE OFFICE SPACE WOODLAND HILLS, LEE AND ASSOCIATES, OFFICE SPACE, OFFICE SPACE FOR LEASE, RENT OFFICE, TARGET WOODLAND HILLS, VENTURA BOULEVARD, WARNER CENTER, WEATHER WOODLAND HILLS, WOODLAND HILLS APARTMENTS, WOODLAND HILLS CA, WOODLAND HILLS CALIFORNIA, WOODLAND HILLS CHURCH, WOODLAND HILLS KAISER, WOODLAND HILLS MALL, WOODLAND HILLS OFFICE SPACE, WOODLAND HILLS SCHOOL, WOODLAND HILLS ACADEMY

Q4 2012 San Fernando Valley Office Market Report

Q4 2012 San Fernando Valley Office Market Report (Click Here)

Space Planning. How Much Space Do I Really Need?

When it comes time to rent office space, there is a logical calculation to determine how much space you really need. You might use this method if you did not have a professional space planner and architect analyzing the efficiency of office space on your behalf.

You have Offices, Work Stations, Clerical, Secretarial, Meeting Room, Facilities, Service Areas, Etc.  Each item above has a particular size range. You tally up how many of each item you need, then multiply the quantity with each size, add the Circualtion Factor (the amount of space used for circulation paths within your space), approximately 20%, then add the Load Factor (your percentage of shared common area space in the entire building) approximately 12%-25% and you have your Rentable Square Footage.

Rentable square foot is the Usable square foot plus Load Factor. Also to note, Rentable Square Footage is the amount of space you are charged for on a per square foot basis.

Generally speaking, higher density offices will be approximately 175 square feet per employee while lower density offices will be approximately 325 square feet per employee after all said and done.

Make sure you plan for 3-5 years of growth in advance and allow for some flexibility in your space for the future.

To use the space calculator, click on link below.

Office Space Calculator

Operating Expenses Pass Through – What extra costs am I responsible for?

Office buildings traditionally use a lease type called a Full Service Gross (FSG) lease.  This lease means your rent already includes taxes, insurance, utilities, repairs and maintenance, etc. except for your phone and internet.  It might seem that other than your fixed annual increase, this is the extent to your rent costs. However that is not always the case.  Pass through costs represent the share of a buildings operating expenses (Taxes, Insurance, utilities, repairs and maintenance, etc.) that the landlord passes on to the tenant each year.  A tenant will have the responsibility to pay their share of any increases in Operational Costs over their “base year”.  The Base Year is referred as the buildings Operating Costs of the 1^st year of the lease and is typically calculated to a “gross up” 95% occupancy level.  The ability to pass through Operating Expenses enables the Landlord to protect themselves against increases in cost due to inflation and other similar forces.  Most common leases favor the landlord and provides them with the ability to pass through these increases.

The landlord typically provides the tenant with their estimated share of Operating Expenses for the projected year based upon previous yearly Operating Expenses.  The tenant will pay 1/12 of their estimated Operating Expenses each month. At the end of each year, the landlord may provide to the tenant a final statement of the actual expenses for the prior year and either the landlord to refund the overpayment or tenant to pay the outstanding difference in balance.  

Putting a cap on annual “controllable expenses” (Building Service Contracts, Personal Salaries, Management Expenses, Capital Expenditures) is a way tenants can protect themselves from excessive pass through costs.   Also requiring the landlord to deliver to a tenant at the end of each year a detailed statement of the actual operating expenses for the prior year will affirm the pass though amount is correct.  On your lease be sure that the specific calculation to your percentage of space is stated and be aware of specific lease language on operating expenses that allows for additional expenses to be backed in.    

Los Angeles Class A Office Vacancy Recovery! Are We There Yet?

Optimism is echoed as compared to the previous quarters by many office investors and business owners. A recent leasing survey by local real estate professionals show lease transactions consummating but at a steady and slow pace. Renewals by Tenants are keeping the vacancy factor constant as long as Tenants are not leaving. We are not seeing many new businesses located in the local area making sideways moves. Many Landlord Leasing Representatives are targeting quality tenants located just outside the local market in hope of brining them in. Businesses that have weathered the storm by now, are able to take a slight breath as the overall sluggish economic moves in a positive direction but at snails pace.  Construction has yet to be seen, however there is buzz out there that projects are going to begin. 

Los Angeles Business Journal Article

Woodland Hills Class A Office For Lease - Warner Premier Tour

 Warner Premier is a Class A professional office building is centrally located in the Warner Center and the city of Woodland Hills. This prime Warner Center location has great visibility and convenient access to the (101) Ventura Freeway.
The address is 5550 Topanga Canyon, Woodland Hills and is located on the signalized corner of Burbank Boulevard and Topanga Canyon Boulevard. This location also benefits from the State Enterprise Zone. The property features highly efficient floor plates, abundant window lines and state of the art security and HVAC system. Warner Premier is parked 3.5:1,000 and offers both reserved and covered parking.
For more information and availability of space for lease, please contact Eric Nishimoto at the Calabasas Lee & Associates 818-223-4388

San Fernando Valley Commerical Real Estate Brokerage Firms 2010 Ranking - Top of List Ranks Lee & Associates LA North/Ventura, Inc.

The San Fernando Valley Business Journal rankes top Real Estate Brokerage Firms for 2010. Lee & Associates - LA North/Ventura, Inc. rises in the rankings to the #2 spot in Total Value of Deals and ranks #1 in Value of Sales in 2010. Our offices are located in Sherman Oaks, Calabasas and Oxnard.

Klorman Business Center Office for Lease 23047 Ventura Blvd, Woodland Hills

The Klorman Business Center located within the west San Fernando Valley in the city of Woodland Hills on Ventura Boulevard. This newly remodeled office building was built with quality construction and beautifully upgraded common areas. The move-in ready new office suites have abundant window line and high end office amminities. Tenants have 24/7 access to the property and state of the art security systems.

28720 Roadside Dr, Agoura Hills "Shamrock Plaza Office" The Name

Shamrock Plaza is located in the heart of Agoura Hills situated just off the 101 Ventura Freeway between Kanan Road and Las Virgenes Road exits. 

Shamrock Holdings Inc. was the firm founded by Roy E Disney, a family investment firm. The Disney family still remains the major shareholder of this firm.  Shamrock Holdings Inc. owns a variety of assets including radio, television stations and a number of real estate assets.

In 1985, Shamrock Holdings Inc., began construction of the Shamrock Plaza. Hence the name.

Agoura Hills Office Space for Rent Virtual Tour - Shamrock Plaza

28720 Roadside Drive, Agoura Hills Shamrock Plaza is centrally located in the Conejo Valley and is nestled against the beautiful backdrop of the Santa Monica Mountains. This modern office building, built by the Disney Corporation features medical and office suites, ample free parking, abundant widow line, and has a variety of spaces to fit your office needs.  

Lee & Associates - LA North/Ventura Commercial Real Estate San Fernando Valley Business Journal

Uncovering Opportunities and Creating Outstanding Results!

Still a challenging market ahead for 2011, but many commerical real estate investors once on the sidelines in 2009 and 2010 are beginning to re-enter the real estate market and plan to be active this year. 

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