The San Fernando Business Journal recently ranked CBM among the 20 top producing retail leasing brokerages in the San Fernando Valley region. To gain further insight into the Valley’s evolving retail landscape, SFBJ staff reporter Michael Asuhenke reached out to Dave O’Connell, CBM’s Valley Division Director, for his perspective on retail real estate in the Valley.
“The Village [Westfield’s Food Hall on Topanga Cayon Boulevard in Canoga Park] has been a transitional project for the San Fernando Valley and has made retail an experience,” O’Connell notes, adding “High-end retail with the right project can really do well in the Valley.”
Mr. O’Connell also underscored how traditional retail strip centers are still thriving, especially in grocery-anchored centers, pointing to recent deals he completed with Western Dental and El Pollo Loco in grocery-anchored properties. Additionally, O’Connell noted restaurants remain in high demand, and outlying areas, such as Santa Clarita and Lancaster, with retail centers that have languished with empty units for years, are seeing vacancy rates drop steadily.
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