Sherman Oaks Office Space for Rent
A slice of suburban life in sprawling Los Angeles, Sherman Oaks, CA 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 miles, is a hub for local businesses.
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Sherman Oaks Office Space | Lease Data & Trends
Sherman Oaks, CA is part of the greater San Fernando Valley & Ventura County region, where asking prices tend to lean on the more affordable side of Los Angeles commercial real estate prices.
The San Fernando Valley/Ventura County submarket is home to more than 33.5 million square feet of office space inventory, with 365,000 square feet of new space under construction as of Q3 2020. Total commercial real estate vacancy rate was 14.5% as of Q3 2020, which includes vacancies for both subleases and direct space — this rate was slightly less than the overall Los Angeles commercial vacancy rate of 15.1%. The sublease vacancy rate of 0.7% was lower than the Greater Los Angeles sublease vacancy rate of 1.3%.
Across all building classes, office spaces for lease in this region typically have an average asking price of about $2.60 per square foot per month, or just above $31 per square foot per year. This is less than the Los Angeles-wide average of around $3.30 per square foot per month, or just under $40 per square foot per year. Businesses in need of affordable office space in the Los Angeles area would do well to consider Sherman Oaks, CA in their search.
For companies of a smaller size that prefer to go the coworking route, there are a few options for coworking offices available in Sherman Oaks, such as Barrister Executive Suites and Regus.
Contact us for more information on Sherman Oaks, CA offices, or for assistance with finding available office space for lease.
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 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 a 48 Bike Score. Luckily, the suburban nature of the neighborhood lends itself to relatively easy parking.
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.
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.
Since Sherman Oaks, CA 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.
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).
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.
Top Commercial Buildings in Sherman Oaks
If you’re looking to start your office space search in the Sherman Oaks, CA area, these buildings are a great place to begin. They are conveniently located on Sherman Oaks’ main street, Ventura Boulevard.
14455 Ventura Boulevard: This commercial building was constructed in 1980 and has 28,800 square feet of space, spread out across 3 floors. Tenants will enjoy convenient access to surface parking spaces.
13949 Ventura Boulevard: Built in 1989, this building can be recognized by its distinct fresco outer walls. The building has LEED status as a result of renovations undertaken by holding company MWest in 2011. Other renovation results include overall space upgrades.
15233 Ventura Boulevard: Also referred to as Valley Office Plaza, 15233 Ventura Boulevard is a 13-story, Class B office building with just under 200,000 square feet of space. It was built in 1966 and renovated in 2002. Amenities include covered parking spaces for a monthly fee, floor-to-ceiling windows with Valley views, and on-site property management. From the building, there is immediate access to the I-405 and I-101 freeways.