The South Bay’s industrial vacancy rate rose in the third quarter to 0.8 percent from 0.6 percent in the prior quarter. The market saw 3.1 million square feet of sales and leasing activity, with 2.3 million square feet under construction. The South Bay’s office vacancy rate, however, narrowed in the third quarter, dipping to 17.9 percent from 18.4 percent in the previous quarter, and 21 percent a year ago.

Main Events

-United Parcel Service Inc. signed a 525,400-square-foot lease at the Brickyard at 13633 S. Central Ave. in Compton in a deal estimated to be worth at least $44 million.

-Kite Pharma Inc. nabbed a 60,000-square-foot office lease worth nearly $23 million at 2383 Utah Ave. in El Segundo.

-Mariner Real Estate Management acquired a 26.7-acre office campus in Torrance.