Middle Market Digest: This Week in Southwest

Fourth quarter reports continue to roll in, and they paint a healthy picture for the Southwest market. In Los Angeles, office investment sales price per square foot increase, although transaction volume fell dramatically. It was the only California market to see an increasing in pricing. In Phoenix, the multifamily market continued to improve. While numbers haven’t returned to pre-recession highs, the market is experiencing a boost in construction activity and strong demand. Phoenix and Las Vegas were also listed among the top emerging industrial markets in the nation. Sales activity was also healthy. Here’s a look at this week’s trends, announcements and deals that you may have missed in Southern California, Utah, Arizona and Nevada.

BY THE NUMBERS

LOS ANGELES—A total of 56 office deals closed in Q417 in California amounted to $4.3 billion in sales volume, a 49% decrease year-over-year. Los Angeles was the only California market to see an increase in its average price per square foot, reaching $469 in Q4;  San Francisco came in second with $464 , followed by the Bay Area with $293 at #3, with San Diego ($252) and Sacramento ($184) closing the list. The largest deal of the quarter  was the $605 million purchase of the three-building Pacific Corporate Towers in El Segundo by Starwood Capital Group.