LOS ANGELES—Two retail centers in Los Angeles County have sold for a total of $29 million, illustrating increasing demand for shopping centers in the Los Angeles market. The Sierra Commons in Palmdale and the Pacific Plaza in Torrance, which total 128,000 square feet, were the two properties to trade hands.

“According to Costar, we have seen a 15% increase in transaction volume and a 20 basis-point compression in cap rates for retail properties that have sold over $10 million in Los Angeles County, comparing the 12-month periods from 3rd quarter 2013 to 3rd quarter 2014,” Bill Asher, the managing director for Hanley Investment Group who served as a broker in the two transactions, tells GlobeSt.com.

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