Sherman Oaks Office Space for Rent
A slice of suburban life in sprawling Los Angeles, Sherman Oaks is where mom ‘n pop shops still thrive on avenues parallel to streets lined with leafy trees. This quieter personality, especially compared to the nearby neighborhoods like Studio City and Bel Air, draws traditional businesses such as nonprofits, media groups, business and financial firms, and, of course, retail – Sherman Oaks is all but synonymous with its eponymous Galleria. Where the Galleria sits, the crux between the 101 Ventura Freeway and the 405 San Diego Freeway, is the busiest intersection in the entire San Fernando Valley.
Ventura Boulevard runs through Sherman Oaks, connecting the neighborhood from Calabasas through Studio City. This stretch, nearly five miles of the street’s entire 18, is a hub for local businesses.
Sherman Oaks Office Space | Lease Data & Trends
Sherman Oaks is part of the greater Western LA region, which as a whole commands the highest pricing per square foot in the metro area.
The Western Los Angeles submarket boasts more than 55 million square feet of inventory, with a vacancy rate of around 14%. Through Q3 2018, the submarket has seen more than 400,000 square feet of new office space come to market, all categorized as Class A. An additional 900,000 square feet of space is still under development.
Across all building classes Sherman Oaks office space for rent typically has asking prices of around $3.35 per square foot per month, or around $40 per square foot per year. This is similar to the Los Angeles citywide average of around $3.60 per square foot per month.
What Our Brokers Say About Sherman Oaks Office Space for Rent
Sherman Oaks Galleria, made famous by the fictional teenagers who frequented its food courts and shops in ’80s films like Fast Times at Ridgemont High and Valley Girl, is today as popular as ever. It’s been joined by the The Village at Sherman Oaks Business Improvement District, which stretches from Hortense Street on Van Nuys Boulevard up to Cedros Avenue, on the northern side of Ventura Boulevard. The BID, as it’s known, boasts a number of specialty shops and upscale fitness studios.
With its open-air cluster of locally-owned eateries and national franchises, the BID is one of the more walkable sections of Sherman Oaks. For everywhere else, most who work or live here opt to get around via car, since the area has a rather low Transit Score of 43 (public transportation is limited to buses, which connect to the LA Metro Rail System), and 48 Bike Score. Luckily, the suburban nature of the neighborhood lends itself to relatively easy parking.
Get to Know Sherman Oaks
The neighborhood counts two major freeways: The 405, which runs along the western border, connects Sherman Oaks with its San Fernando Valley neighbors. The 101, which cuts straight through the neighborhood parallel to Ventura Boulevard, makes it easy to reach Studio City and Encino on either side of Sherman Oaks. The 134
Since Sherman Oaks is situated between such busy neighborhoods, it has inherent proximity to world-class LA institutions ranging from the Hollywood Bowl (a 20-minute drive) to the mammoth art center, The Getty (a 15-minute drive). At the neighborhood’s tip sits the educational powerhouse, the Skirball Cultural Center, known for its extensive collection of Judeo-American curio and for curating an impressive array of speeches and informal talks.
Ventura Boulevard, the neighborhood’s main strip, draws most of the area’s businesses. With its generous square footage and wide spaces, the street attracts legal and insurance firms, small-batch breweries, boutique retailers ranging from cigar shops and an LP store to cheesemongers, plus a slew of health and wellness services. This is also where much of Sherman Oaks comes to play: The street is home to a number of destination dining spots like MidiCI, Spumoni, and Blu Jam Cafe. There’s a Mendocino Farms outpost here, too. For happy hour, the Sherman, Tipsy Cow, On the Thirty, and the Woodman are all spread along Ventura Boulevard as well.
UCLA is a 15-minute car ride from Sherman Oaks, making the neighborhood ideal for businesses looking to recruit young talent from any of the university’s top schools.
There’s no shortage of green space in the greater Sherman Oaks vicinity. In the middle of the neighborhood sits Deervale-Stone Canyon Park, revered by residents for its hiking trails; Fossil Ridge Park, known for its namesake paleontological wealth; Coldwater Canyon Park, which, along with its park counterpart, affords sweeping views over the San Fernando Valley; and the city park, Van Nuys/Sherman Oaks Recreation Center. Sepulveda Basin is just north of Sherman Oaks, a recreational area known for its scenic bike path and impressive wildlife preserve (it’s a major landing spot for migrating birds).
Upscale Flair, Small-Town Charm
Celebrities looking to escape the chaos of Studio City have, for years, turned to Sherman Oaks for respite. (Marilyn Monroe and Bing Crosby both owned homes in Sherman Oaks.) All upper-class connotations of Mulholland Drive ring true here in Sherman Oaks, where the famed street winds along the southern border, separating the neighborhood from Bel Air, Beverly Park, and Beverly Glen.
Similar to the nearby neighborhoods like Reseda and Studio City, Sherman Oaks is popular with affluent families and young professionals, who enjoy the slower pace afforded by the area’s spacious dwellings. Residents are involved in the general maintenance of the vicinity; community meetings are frequently held and attended, a welcome and unique change in a city so commonly felt as impersonal.