Office vacancy rose in the quarter to 17.5 percent – the highest rate in a year. Office tenants gave back almost 26,000 square feet, according to Colliers International data. Asking rents gained a penny to $2.68 a square foot.Main EventsCrowsnest Properties in Encino paid $24.4 million to buy 26235-26245 Technology Drive in the Valencia Technology Park. Seller of the 155,924-square-foot warehouse was L2H Properties in Valencia.
Developers Trammell Crow Co.
and Clarion Partners leased the 172,324-square-foot Building 2 at Center Needham Ranch to DrinkPak, a beverage manufacturer. Financial details of the seven-year lease were not disclosed.The 66,782-square-foot retail property Sierra Crest Center at 27125-27127 Sierra Highway in Santa Clarita sold for $9.9 million to Synergize Ventures in Danville.