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Ventura County industrial building property tax appeals are significantly affected by key metrics such as market vacancy and market rent. These trends are summarized below.
| Vacancy % | Total Available % | Total Inventory SF | Average Asking Rent | |
|---|---|---|---|---|
| Camarillo | 0.40% | 0.81% | 11,118,124 | $1.01 |
| Moorpark | 0.10% | 8.13% | 4,134,368 | $1.24 |
| Oxford/PortHueneme | 0.00% | 1.73% | 21,653,684 | $0.85 |
| Simi Valley | 0.80% | 1.79% | 8,926,455 | $1.50 |
| Thousand Oaks | 4.80% | 5.23% | 8,597,333 | $1.35 |
| Ventura | 0.20% | 1.10% | 9,714,883 | $0.99 |
| Westlake Village | 0.70% | 1.56% | 3,830,669 | $1.96 |
| Total Manufacturing | N/A | N/A | N/A | N/A |
| Total Warehouse | N/A | N/A | N/A | N/A |
| Total Ventura County Industrial Market | 0.80% | 2.30% | 67,975,516 | $1.20 |
Analysis By WPA 2023
Data By CBRE Market Research 2023
Data included for the cities of: Camarillo, Moorpark, Oxford, Port Hueneme, Simi Valley, Thousand Oaks, Ventura, and Westlake Village.
Ventura County retail building property tax appeals are significantly affected by key metrics such as market vacancy and market rent. These recent trends are summarized below.
| Vacancy % | Total Available % | Total Inventory SF | Average Asking NNN Rent | |
|---|---|---|---|---|
| Antelope Valley | 5.96% | 6.11% | 8,136,430 | $1.56 |
| Greater Downtown LA | 10.21% | 12.00% | 2,658,807 | $3.49 |
| Mid-Cities | 4.14% | 4.20% | 12,308,795 | $2.37 |
| Mid-Wilshire | 5.70% | 5.84% | 3,661,314 | $3.14 |
| San Fernando Valley | 5.72% | 6.34% | 15,014,978 | $2.78 |
| San Gabriel Valley | 5.23% | 5.39% | 20,703,457 | $2.46 |
| Santa Clarita Valley | 5.27% | 5.34% | 5,905,323 | $2.54 |
| South Bay | 3.59% | 3.63% | 20,150,801 | $2.72 |
| South East Los Angeles | 5.00% | 5.00% | 7,269,313 | $2.05 |
| Tri-Cities | 6.64% | 6.64% | 9,204,962 | $3.32 |
| Ventura | 4.84% | 5.12% | 22,339,323 | $2.34 |
| West Los Angeles | 11.47% | 12.55% | 5,320,161 | $5.80 |
| Greater Los Angeles Retail Market | 5.36% | 5.61% | 132,673,664 | $2.77 |
Analysis By WPA 2023
Data By CBRE Market Research 2023
Some of the largest cities in Ventura County by population include: Oxnard, Thousand Oaks, Simi Valley, Ventura, Camarillo, Moorpark, Santa Paula, and Port Hueneme.
Ventura County is located along the Pacific Coast, bordering Los Angeles at the south and east, Kern County to the north, and Santa Barbara County to the west. The largest city in the County is The City of Oxnard.
The industrial market in the greater Ventura County area logged a 2.3% vacancy and availability rate for the fourth quarter of 2022. Performance varied considerably through the county, with Moorpark reaching 8.1%, and Thousand Oaks reaching 5.23%. Other cities experienced tighter occupancy levels.
Net absorption was negative in the Thousand Oaks and Camarillo sub-markets and barely positive in most other sub-markets. There is no significant new construction or additions to inventory in progress, leading to anticipated consistent future inventory levels.
Increasing Federal Funds rates, driving up interest rates, has warranted adjustments to the economic outlook for some property. The Conference Board is a non-profit think tank which addresses economic issues, among a range of subjects. In late 2022, they made the following statement:
“The Conference Board forecasts that US economic weakness will intensify and spread more broadly throughout the US economy over the coming months with a recession to begin around the beginning of 2023. This outlook is associated with persistent inflation and rising hawkishness by the Federal Reserve.”
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