Westlake Village Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $30.76 2024 Avg. Asking Rent
  • -0.14% Y-o-Y Avg. Asking Rent Change
  • 11.61% 2024 Office Vacancy Rate

Westlake Village office price per square foot in 2024 was $30.76 on average. This marked a -0.14% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 11.61% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Westlake Village, CA Office Asking Rents by Class

2024 Office Vacancy Rates in Westlake Village

Submarket Asking Rents Vacancy Rates
Thousand Oaks $30.76 19.81%
Agoura Hills - Calabasas $28.30 13.54%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Westlake Village market was 11.61% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Westlake Village was 13.54% in the Agoura Hills - Calabasas submarket, while the highest office vacancy in the market was 19.81%, recorded in Thousand Oaks.

Office Spaces for Rent in California

Coworking Spaces in California

Largest Office Properties Recently Completed in Westlake Village
Office building Address SF Completed
2945 Townsgate Road 2945 Townsgate Road, 91361 65,931 2008
Westlake Landmark - Building II 30870 Russell Ranch Road, 91362 115,677 2006
Westlake Plaza Center III 2815 Townsgate Road, 91361 77,108 2001
30700 Russell Ranch Road 30700 Russell Ranch Road, 91362 137,762 2000
Westlake Gardens 2535 Townsgate Road, 91361 93,845 1998
31248 Oak Crest Dr 31248 Oak Crest Dr, 91361 53,133 1998
31280 Oak Crest Drive 31280 Oak Crest Drive, 91361 27,632 1996
The Meadows @ Westlake Spectrum - 31365 Oak Crest Drive 31365 Oak Crest Drive, 91361 89,398 1990
The Meadows @ Westlake Spectrum - 4333, 31355 & 31365 Park Terrace Drive 4333 Park Terrace Drive, 91361 89,398 1990
351 Rolling Oaks Dr 351 Rolling Oaks Dr, 91361 34,000 1990

Worth noting among recent office completions on the Westlake Village market is 2945 Townsgate Road, which is currently the largest new office development in the city, at 65,931 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Westlake Village commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.