San Fernando Valley Office Rental Market Picking Up Slowly
Friday, January 14, 2011 at 6:30PM 
Year end 2010 left us with conservative but encouraging recovery in the office sector. Still the fourth quarter left landlords with presistent challenges ahead. With multiple spaces for quality tenants to choose from, low market rents coupled with high improvement cost have pushed majority of the smaller landlords without deep pockets out of this leasing market. Not to mention the need for many existing tenants that has excess space trying to downsize.
The pace of lease transactions have picked up toward the end of the year as confidence in our economy is slowly recovering. Over the course of this year, we should see a stabilization of rents as we have seen a decline for 12 straight quarters. New employment and business growth is certainly the leading factors to stabilization of rents and absorption of excess space.
