Area office vacancies are still pushing the envelope

Market remains ‘overbuilt’

NEW INVENTORY—Mark Scheu’s Ridge office complex on Agoura Road in Agoura Hills is offering units for sale.
If the recession is officially winding down, the office real estate market has yet to get the memo.
Landlords began dropping lease prices two years ago to stave off higher vacancy rates locally, yet the office rental market continues to languish, said Tom Dwyer, vice president of CB Richard Ellis, in the 2011 Ventura County Economic Outlook.
In the report prepared by the Califor...

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