The Westside’s office vacancy rate decreased slightly in the third quarter, reaching 13.6 percent from 13.7 percent in the prior quarter, and compared with 14.5 percent in the year-earlier period. Even so, Class A rents stayed nearly flat at $4.75 a square foot compared with $4.76 in the prior quarter. The submarket saw net absorption of 64,300 square feet in the quarter.
-Brooks Caddell Barton Trust sold Bijan’s store at 420 N. Rodeo Drive in Beverly Hills for $122 million, or $19,405 a square foot, to LVMH Moet Hennessy Louis Vuitton Inc.
-The 650-acre Malibu Golf Club sold for $30.5 million to Chinese company Shinan Golden Faith International Development Ltd.
-Rockwood Capital acquired the Playa Jefferson office for $165 million.
For reprint and licensing requests for this article, CLICK HERE.