Downtown’s office vacancy rate dipped slightly in the first quarter of 2017, sliding to 16.2 percent from 16.4 percent in the prior quarter and compared with 16.6 percent in the year-earlier period. Class A rents climbed a smidgen to $3.55 a square foot from $3.52 in the fourth quarter of last year. Net absorption was 25,310 square feet. There were 372,775 square feet under construction.
Nordstrom Inc. leased 27,000 square feet of retail space at Figat7th, a mall at 735 S. Figueroa St. owned by Brookfield Property Partners.
Rosa Labs, maker of Soylent, leased 29,000 square feet of office space at 555 Mateo St., a mixed-use Arts District complex owned by ASB Real Estate Investments and Blatteis & Schnur.
Tokio Marine HCC leased 32,000 square feet of office space at 801 S. Figueroa.
Zion Enterprises and TA Partners purchased a 1.37-acre development site at Grand and Cesar Chavez avenues from an affiliate of Cimmarusti Holdings.
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