While the market saw strong leasing activity, secondary markets in the Western US are outpacing Southern California.

In a recent study conducted by CoreNet Global and FPL Associates, salary increases continue to be the predominant practice from CRE and other real estate sectors, but the same cannot be said of bonus increases, GlobeSt.com exclusively learns.

"We saw this as a great opportunity to provide a structured investment in a development project that is extremely promising, given the ongoing local demand for high-quality residential and retail product," says Matt Drummond, Square Mile Capital.

A long-term lease of 629 square feet has been inked with Flip 'n Patties at Understory, the 35,000-square-foot community hub and culinary market at Capitol Tower.