D
owntown

    Revel signed its first Los Angeles lease to develop fast charging stalls at 1233 S. Grand Ave. Downtown's office vacancy rate rose to 30.3%, with rents falling to $3.86/sqft and a net absorption of -225,000 sqft. Southern California Gas Co. leased 199,000 sqft at City National 2CAL, while an 80,000-sqft landmark building sold for $16 million.

    Hollywood

    The office vacancy rate rose to 29.8%, with rents falling to $4.83/sqft and a net absorption of 42,000 sqft. Passes moved into a new office at 720 N. Cahuenga Blvd., while Avison Young listed the historic Hollywood Mountain for sale.

    Westside

    A Beverly Hills six-story office and retail asset sold for $211 million. The Westside office vacancy rate rose to 28.3%, with asking rates climbing to $6.05/sqft in Century City. Over 1.8 million sqft was under construction, largely in Century City and West L.A.

    Santa Clarita Valley

    Construction completed on the 1.7 million-sqft The Center at Needham Ranch. The office vacancy rate rose to 35.2%, with asking rents falling to $2.82/sqft.

    San Fernando Valley

    GPI Cos. acquired a 292-unit apartment complex in North Hollywood, while a fully leased distribution facility sold for $41.5 million in Chatsworth.

    Tri-Cities

    A 70-unit permanent supportive housing complex opened in Pasadena, with the office vacancy rate rising to 31.9%.

    Wilshire Corridor

    CMCT completed an office-to-residential conversion at Mid-Wilshire, while a 72-unit multifamily property sold for $30 million in Koreatown.

    South Bay

    Meta Housing broke ground on 1400 Long Beach, a new affordable housing development. The industrial market vacancy increased to 6.1%, with rents falling to $1.69/sqft.

    San Gabriel Valley

    A 163-unit mixed-use apartment complex traded for $87 million, while the industrial vacancy rate rose to 5.6%.