Conejo Valley, The Star of L.A. North

John DeGrinis is a senior executive VP at Colliers International.

LOS ANGELES—The Conejo Valley is the star of the L.A. North industrial market. With only a .3% vacancy rate, it is one of the tightest industrial submarkets in the San Fernando valley market, which includes the San Fernando valley, Ventura County and Santa Clarita. As a result, there is a severe lack of supply in the market and limited land to build.

“The Conejo Valley submarket has a 0.3% vacancy rate and the entire San Fernando Valley market carries only a 2.1% vacancy rate,” John DeGrinis, senior executive VP at Colliers International, tells GlobeSt.com. “There is strong industrial demand, particularly for modern industrial buildings with tall ceilings, good loading, and image versus the bulk of the product that exists, which is predominantly 1970’s vintage, 1-foot ceiling height, limited loading, and other challenges that affect a company’s ability to operate efficiently within a facility. The lack of supply has been problematic for about two years due to the imbalance in this region of strong demand versus little supply/lack of new construction.”