The South Bay’s industrial vacancy rate narrowed in the first quarter, slipping to 0.8 percent from 1.1 percent in the prior quarter and compared with 1.9 percent in the year-earlier period. Class A rents grew a bit, hitting 82 cents a square foot compared with 77 cents in the fourth quarter of last year. More than 2.1 million square feet were sold or leased. There were 2.1 million square feet under construction.

Main Events

Nativo Inc. leased 25,051 square feet at Pacific Corporate Towers, 100, 200, and 222 N. Sepulveda Blvd. in El Segundo, owned by General Motors Pension Trust and BlackRock Inc.

CityView sold the 200-unit Solimar apartment complex in Wilmington for $75 million to the Redfern Family Trust.

Molina Healthcare leased 100,000 square feet at the Topaz office tower, 222 W. Sixth St. in San Pedro, owned by Jupiter Holdings.

Alpine Electronics of America Inc. renewed a long-term lease for 69,700 square feet at 2012 Abalone Ave. in Torrance.

For reprint and licensing requests for this article, CLICK HERE.