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2.1%

RETAIL Rent Growth

MARKET (2019 AVERAGE)

Reseda is designated within the Western San Fernando Valley retail submarket,
whose landscape is shaped by shopping centers, strip malls, and stand-alone retail.
Current vacancies are at 5.8% and have fluctuated for years, with spikes correlating 5.6%
to new deliveries. Meanwhile, rent growth during the past several quarters has
been measured, similar to the greater market. Year-over-year rent gains in the Vacancy Rate
submarket recorded at 2.1%, compared to the metro’s pace of 0.9%, reaching (2019 AVERAGE)
current average asking rents of $28.00 per square foot.

Development activity in the submarket has been modest during the past decade,
with only one major project delivered in the area since 2006. The Vineyards at
Porter Ranch, a 345,000-square-foot lifestyle center, was the largest retail 33K
delivery for the Los Angeles metro last year, bringing AMC Theaters, Whole
Foods, and Nordstrom Rack as anchor tenants. Looking forward, approximately Traffic Counts
170,000 square feet of space currently is under construction. (DAILY)

12K

Population
(DAYTIME)

11