Ventura County Industrial Market Report

The following reflects Ventura County industrial market conditions as of Q2 2026.

MARKET DRIVERS

Since mid-2022, nearly every quarter has recorded relatively muted occupancy gains. However, direct net absorption totaled positive 239.7K SF in Q2, marking the second consecutive quarter of positive absorption and bringing year-to-date absorption to more than positive 400K SF.

Vacancy and availability rates remained elevated in Q2. The vacancy rate declined by 30 basis points (bps) QOQ to 4.5%, while availability increased 120 bps YOY to 7.2%. Although both metrics have risen over the past couple of years, they remain relatively low from a historical perspective and compared to many larger industrial markets along the West Coast.

Leasing activity in Q2 totaled 492K SF. In recent years, leasing volume has been driven primarily by smaller tenants, while activity among larger occupiers has moderated from the peak levels recorded earlier in the cycle.

Approximately 991K SF is currently under construction, with the majority concentrated in the Oxnard/Pt. Hueneme submarket. Only 20K SF of new product delivered during Q2, limiting immediate supply-side pressure. However, as projects underway reach completion, vacancy and availability rates could face upward pressure if tenant demand does not accelerate.

ECONOMIC REVIEW

The unemployment rate for the Oxnard-Thousand Oaks-Ventura MSA was 4.2% in April, down 20 basis points (bps) from 4.4% one year earlier as well as 20 basis points from the month prior.

Amgen’s planned $600 million research and development facility in Thousand Oaks remains one of the most significant economic development projects underway in Ventura County. The investment is expected to generate hundreds of jobs and support long-term growth in one of the region’s largest private employment sectors.

NEAR-TERM OUTLOOK

Ventura’s industrial market enters the second half of 2026 with fundamentals that remain healthy despite a more balanced supply-demand environment. Positive absorption in consecutive quarters signals improving occupier demand, though leasing activity continues to be driven primarily by smaller tenants.

Vacancy remains relatively low by historical standards, but ongoing project deliveries are expected to keep availability elevated in the near term. As a result, market conditions are likely to remain stable through year-end, with modest fluctuations in vacancy and availability as tenants absorb newly delivered space.

Frequently Asked Questions

What is the industrial vacancy rate in Ventura County in Q2 2026?

The direct vacancy rate in Ventura County was 4.5% in Q2 2026, according to Kidder Mathews research. This was down 30 basis points quarter-over-quarter from 4.8% in Q1 2026, but up 50 basis points year-over-year from 4.0% in Q2 2025. The total vacancy rate, which includes sublease space, stood at 5.1%.

What is the industrial availability rate in Ventura County?

Ventura County’s industrial availability rate was 7.2% in Q2 2026, up 120 basis points from 6.0% one year earlier (Data source: CoStar). Availability includes space being marketed for lease that is not yet vacant, in addition to currently vacant space.

What are average industrial asking rents in Ventura County?

The countywide average direct NNN asking rental rate was $1.26 per square foot per month in Q2 2026, down 1.6% year-over-year from $1.28. Submarket averages ranged from $0.99 PSF in Oxnard/Pt Hueneme to $1.40 PSF in Moorpark/Simi Valley.

How much industrial space was leased in Ventura County in Q2 2026?

Leasing activity totaled 492,021 SF in Q2 2026, according to Kidder Mathews research. This brought year-to-date leasing activity to 1,056,970 SF, down 14.1% from 1,230,141 SF over the same period in 2025.

What was Ventura County’s industrial net absorption in Q2 2026?

Direct net absorption was positive 239,693 SF in Q2 2026, marking the second consecutive quarter of positive absorption and bringing year-to-date absorption to 413,765 SF. Net absorption measures the net change in occupied space over a period, so a positive figure indicates tenants are occupying more space than they are vacating.

How much industrial space is under construction in Ventura County?

Approximately 991,140 SF of industrial space was under construction in Ventura County as of Q2 2026 (Data source: CoStar), with the majority — 737,730 SF — concentrated in the Oxnard/Pt Hueneme submarket at the 101 Logistics Center. Only 20,000 SF of new product delivered during the quarter, at 324 W Santa Maria St in Central Ventura.

What was the largest industrial sale in Ventura County in Q2 2026?

The largest industrial sale of Q2 2026 was 1000-1020 Del Norte Blvd in the Oxnard/Pt Hueneme submarket, a 46,924-SF property that sold for $12,225,000, or $260.53 per square foot. Plascene, Inc. purchased the property from ZDI.

What was the largest industrial lease signed in Ventura County in Q2 2026?

The largest industrial lease of Q2 2026 was signed at 2280 Ward Ave in Simi Valley, within the Moorpark/Simi Valley submarket, for 92,870 SF. Frontline Freight & Fulfillment leased the space from landlord Rexford Industrial Realty, LP in May 2026.

Which Ventura County submarket has the highest and lowest industrial vacancy?

Moorpark/Simi Valley had the highest direct vacancy rate among Ventura County submarkets in Q2 2026 at 8.2%, according to Kidder Mathews research. Oxnard/Pt Hueneme had the lowest at 2.4%, despite holding the largest share of space under construction in the county.

What is the outlook for the Ventura County industrial market for the rest of 2026?

Ventura’s industrial market is expected to remain stable through year-end 2026, with fundamentals that stay healthy despite a more balanced supply-demand environment. Positive absorption in consecutive quarters signals improving occupier demand, though ongoing project deliveries are expected to keep availability elevated and leasing activity continues to be driven primarily by smaller tenants.

Last updated: Q2 2026. Data source: Kidder Mathews Research, CoStar, United States Bureau of Labor Statistics. Compiled by the Kidder Mathews Research Group.

Q2 2026 Ventura Industrial Market: Key Data Points

Explore our full Ventura County industrial market review for deeper insights into leasing trends, sale activity, and submarket performance.

• Positive Absorption Continues: Direct net absorption totaled 239,693 SF in 2Q 2026, marking the second consecutive quarter of positive occupancy growth and bringing year-to-date absorption to more than 413,000 SF.
• Vacancy Remains Relatively Low: Ventura County’s direct vacancy rate measured 4.5% in 2Q 2026, up 50 basis points year-over-year but down from 4.8% in the previous quarter.
• Availability Rate Increases: Availability rose to 7.2%, an increase of 120 basis points from one year ago, as new space entered the market and occupiers evaluated expansion options.
• Industrial Rents Hold Near Historic Highs: Average asking lease rates reached $1.26 PSF per month NNN, declining just 1.6% year-over-year and remaining elevated by historical standards.
• Leasing Activity Exceeds 1M SF YTD: Industrial leasing volume totaled 492,021 SF during the quarter, bringing year-to-date leasing activity to more than 1.05M SF.
• Construction Pipeline Approaches 1M SF: Approximately 991,140 SF was under construction at quarter-end, with most new development concentrated in the Oxnard/Pt. Hueneme submarket.

Submarket Statistics

Significant Sale Transactions Q2 2026

Significant Lease Transactions Q2 2026

Significant Under Construction

Recently Delivered