Bisnow/Allen Matkins - San Fernando Valley - David Hitzel, Douglas Emmett

We welcomed 200 to the Sportsmen's Lodge in Studio City, including Douglas Emmett regional manager of leasing David Hitzel. With an Encino-Sherman Oaks portfolio that's almost 95% leased, he says the submarket is on course with what's going on in the Westside. Rents are rising and concessions are being taken off the table amid the influx of media and tech firms. The company's target tenant is the sub-3,000 SF local professional services firm; that said, reality show producer ITB Studios just leased 21k SF in the Sherman Oaks Galleria's Courtyard Building, representing a new user profile in the market. David says Woodland Hills isn't seeing quite the same velocity, but as rents rise in Encino-Sherman Oaks, he expects to see some push out there.