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.

Main Events

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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