West
Los Angeles Market Update: Office Pipeline Shrinks
As of August, Los Angeles had 7.9 million square feet of office space under construction, representing 2.8 percent of total stock, according to CommercialEdge data. Construction starts have slowed down, and month-over-month the pipeline shrunk by 3.6 percent. Construction activity is on par with last year’s figures—Los Angeles had 7.9 million square feet under construction in August 2020 as well. With just over 5.9 million square feet of office space that remains slated for a 2021 completion, Los Angeles is bound to outperform 2020’s activity—which saw the addition of 2.3 million square feet of new office space. However, it is…
Greater Phoenix Asset Trades for $132M
The property commanded the region’s highest price for an office property so far in 2021.
CRG Launches Major Project in Greater Phoenix
The development will be the largest master-planned industrial park in the Southeast Valley.
Consulting Firm Extends Full-Floor Lease at KBS’ East Bay Property
Berkeley Research Group renewed its lease in one of the Bay Area’s most active life sciences markets.
More Industrial Space Coming to Greater Phoenix
A 770,000-square-foot development is set to come online within the Elliot Road Technology Corridor.
Los Angeles Market Update: Vacancy Increases to Q1 Level
Office leasing activity remains low, with most submarkets recording small changes in vacancy.
Phoenix Market Update: Office Vacancy Keeps Improving
The Valley’s leasing activity received another boost, according to the latest CommercialEdge data.
ACG Equity Partners Agrees to Pay $775M for San Jose Office
The sale is expected to close in December, when the three buildings come online.
Ventas Sells Colorado Springs MOB Portfolio
The portfolio last traded in 2007, when the REIT acquired it for $66 million.
Maricopa County Signs 42 KSF Office Lease
The deal marks the largest lease transaction in the Mesa, Ariz., submarket in the last three years.
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