Woodland Hills, CA, is a wealthy neighborhood in Los Angeles’ San Fernando Valley region that includes many popular tourist attractions as well as a thriving commercial real estate market. When Woodland Hills locals aren’t working hard in their offices, they can enjoy hiking the Santa Monica Mountains or visiting one of the nearby Malibu beaches. The landscape, climate, and friendly atmosphere make Woodland Hills an attractive place for office space seekers to search for their next home.
Lease office spaces in Woodland Hills, and you’ll be in good company. Fortune 500 companies Health Net Inc—an American health care insurance provider—and Farmers Insurance Exchange—a home, automobile, and small business insurance provider—both operate in Woodland Hills offices.
Woodland Hills Office Space | Lease Data and Trends
Woodland Hills rests within the Los Angeles North commercial real estate sub-market, which, as of Quarter 4 of 2020 contained a total of 30.8 million square feet of office space. Whether business owners want to lease executive suites, find coworking opportunities, obtain virtual office services, or identify flexible leasing options, Woodland Hills offers a variety of properties to choose from. While most cities post office rental properties’ prices by square foot per year, Woodland Hills’ listings are expressed by square foot per month. The average rental price for office space in Woodland Hills, CA is $2.71 per square foot.
Woodland Hills office spaces are pretty evenly split between Class A and Class B offerings. Right now, about 16% of Class A properties are vacant and available to lease; office space seekers will find asking rents averaging $2.94 per square foot. About 17% of the Class B office spaces in Woodland Hills are also available to lease and cost an average of $2.45 per square foot to rent.
Overall, office space rental pricing in this area is comparable to prices in Mid-Wilshire, West San Gabriel Valley, and Downtown Long Beach, other popular districts in Los Angeles. Office space rental prices in Woodland Hills are cheaper than prices in the Downtown area, where asking rents are closer to $3.72 per square foot, so finding offices in this location may be a cost-effective way to stay in the city. As of Q4 of 2020, more than 300,000 square feet of office space were under development, so more spaces will be available to lease in this location in the coming months.
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Those who lease offices in Woodland Hills will find not only beautiful beaches and plenty of properties to choose from but also adequate public transportation, the ever-developing Warner Center, a great variety of places to eat, and maybe even a few celebrities.
West Hills, Canoga Park, and Winnetka border Woodland Hills to the north, and the Santa Monica Mountains border it to the south. Like most neighborhoods in Los Angeles, Woodland Hills was designed to be navigated by car. U.S. Route 101 (Ventura Freeway) and Ventura Boulevard both run through the district east to west.
If employees prefer to commute to their offices via public transportation, Woodland Hills does offer a few opportunities to do so. For example, the Los Angeles Metro Orange Line, a bus rapid transit line that operates between Chatsworth and the North Hollywood Metro Station, services Woodland Hills and the surrounding neighborhoods. The Orange Line stops in this district are Canoga, De Soto, and Pierce College. One of Woodland Hills’ main business centers, Warner Center, has its own transportation hub, Warner Center station, which is served by shuttles. The closest airport to Woodland Hills is the Van Nuys Airport, which is only 10 miles away; other choices are the Bob Hope Airport and the Los Angeles International Airport. The area is fairly suitable for pedestrians, but it does not have many bike lanes.
Warner Center, an important business development in Woodland Hills, was originally envisioned as a master-planned community. Today, more than 40,000 people work in Warner Center buildings in a variety of industries, such as healthcare, financial services, and professional services. This Class A office development offers both executive suites and flexible renting options. Be sure to contact the Warner Center about virtual office services so your employees can work remotely when they need to, and you can rest assured your on-site admin work is handled.
Warner Center is still under development; in fact, at the end of last year, The Los Angeles City Council approved a development called “Promenade 2035,” a project that will cost more than $1B. A new sports arena, two hotels, a 28-story office tower, a supermarket, public plazas, and more than 1,400 new apartments are slated to replace the spaces left behind by a shuttered shopping mall. Several years ago, the Warner Center subdivision was already predicted to be the site of numerous developments. The Warner Center 2035 plan indicated that by 2035, developers will add 14 million more square feet of non-residential building space to the property and create opportunities for close to 50,000 more jobs.
Another notable office building in this neighborhood is 21900 Burbank Boulevard, which offers flexible office options including 81 private offices, 48 coworking desks, and 3 meeting rooms. Located in the heart of Woodland Hills, Burbank Boulevard offices boast high-speed internet access, conference facilities, and on-site parking. Tenants are welcome to use videoconferencing equipment to host remote meetings. Be sure to check out the coworking and virtual office offerings as well.
Once a company has finished the search for the right office space and officially decided to rent Woodland Hills properties, company leaders and employees alike will probably become curious about what the area has to offer. Woodland Hills does not disappoint. Whether locals and visitors need a location for a business lunch or just want to get food somewhere after work, they have a variety of choices, such as Tomato Patch, Pedalers Fork, Leo & Lily, Blue Table, and the Six Chow House. One of the perks of living here is the opportunity to enjoy both mountains and beaches in close proximity. The district also has several park and recreation areas found in a typical neighborhood. For example, the Woodland Hills Recreation Center has an auditorium, a baseball diamond, basketball courts, a play area for children, a soccer field, tennis courts, a pool, and picnic tables. Serrania Park contains both a play area for children and hiking trails for everyone. Upper Las Virgenes Canyon Open Space Preserve has even more hiking opportunities, as well as mountain biking and equestrian rides.