The San Gabriel Valley’s industrial vacancy rate tightened in the first quarter, dipping to 0.8 percent from 0.9 percent in the prior quarter and compared with 2 percent in the year-earlier period. Class A rents increased a hair to 60 cents a square foot from 58 cents in the fourth quarter of last year. About 2.3 million square feet were sold or leased. There were 2.7 million square feet under construction.
Sunny Hills Management Co. Inc. paid $37.5 million for the 100 Barranca St. office building in West Covina.
JLJ Investment purchased Arcadia Gateway Center, a 156,000-square-foot mixed-use complex at 300 E. Huntington Drive in Arcadia, for $62.1 million from Arcadia Gateway Centre Delaware Partners and Post Exchange.
Charles Co. purchased an industrial site at 9320 Telstar Ave. in El Monte for $26 million from Kennedy Wilson Properties and Fairfax Financial Holdings.
System Property purchased 22,800-square-foot San Marino Plaza in San Marino for $10.7 million.
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