Ventura County Office Market Outlook 2Q 2017
MARKET OVERVIEW MARKET OUTLOOK
The Ventura County office market may be losing steam. The average asking rent held steady, while the vacancy rate saw an uptick again this quarter. The vacancy rate increased by 20 basis points this quarter to 12.2% and is up 80 basis points since the fourth quarter of 2016; however, it remains the same as last year at this time. The average asking rent was $1.98/SF this quarter, ranging between $1.98/SF and $2.00/SF in the past year.