Conejo Valley's commercial and industrial real estate market is so strong that buildings entering the market are almost immediately leased or purchased, a Westlake brokerage reports.
In a quarterly survey that included every building in the area from the Calabasas grade to the Conejo grade in Camarillo, Westcord Westoaks Commercial Group found a vacancy rate well under 10% in all types of properties.
"Whenever you have a rate under 10%, you're looking at a very healthy market," said Tony Principe, Westcord's executive vice president.
Demand for industrial space was strongest in the final quarter of 1995, with a vacancy rate of only 5.6%, Principe said. This was followed by the retail sector at 5.8% and office buildings at 8.1%.