Region’s Office Leasing Activity Up : Survey: The May and June total is three times the amount leased during the previous 2 months. But first-half 1991 levels are down from a year ago.

Office leasing activity in the San Fernando and Conejo valleys picked up in May and June after a sluggish market during the previous two months, according to a survey by Julien J. Studley Inc., a New York-based commercial real estate brokerage.

A total of 757,453 square feet of office space was leased during May and June in the region--three times the amount of space leased during March and April, the survey found. The region is bounded by Glendale on the east, and Westlake Village on the west.

Also, the total for the latest two-month period was 35% higher than the 561,634 square feet leased during the same period a year earlier.

Despite the gain in May and June, however, the total amount of office space leased in the first half of 1991 still fell short of the total in the first half of last year. From January through June of this year, 1.55 million square feet of space was leased, down 33% from the 2.32 million square feet leased in the first half of 1990.

Studley said the lower 1991 total was due to a sharp decline in leasing activity in the media and entertainment district in Burbank and Glendale, where more than 1 million square feet of office space was leased in the first half of 1990. During the first half of last year, for example, Walt Disney Co. and Columbia Pictures signed leases in Burbank for a total of about 300,000 square feet.

In comparison, only about 550,000 square feet has been leased in Burbank and Glendale so far this year, a result of the dwindling amount of available space, Studley said. There are no developments under construction in the Burbank Media District, Studley said, and the office vacancy rate there has dropped to between 2% and 4%.