REAL ESTATE: South Bay

Friday, January 20, 2017

The South Bay’s industrial vacancy rate increased slightly in the fourth quarter, growing to 1.1 percent from 0.8 percent the prior quarter, and compared with 1.9 percent in the year-earlier period. Class A rents grew a fraction, hitting 77 cents a square foot compared with 74 cents in the third. More than 2 million square feet were sold or leased. There were 1.13 million square feet under construction.

Main Events

-DivcoWest sold Gateway El Segundo, a 355,000-square-foot office campus at 360 N. Sepulveda Blvd., to Lincoln Property Co. and Rockwood Capital for $120 million.

-Infineon Technologies renewed its lease for 134,000 square feet at 101 N. Sepulveda Blvd. in El Segundo, co-owned by Claymark Capital, AEW Capital Management, and Lincoln Property Co.

-Toyota Motor Sales USA Inc. sold its fixed-based operation in Long Beach, run by AirFlite Inc., to Ross Aviation for an undisclosed price.

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