Transactions remained healthy this week, with ample activity in the Southwest market throughout asset classes. Some of the most notable sales with in the industrial market with Rexford's purchase of Rancho Pacifica Park, a nearly 1.2 million square foot industrial/flex project totaling six buildings and situated on more than 55 acres, and retail with MetLife Investment Management's purchase of Chino Spectrum Towne Center, a 459,969-square-foot power center. Employment news, however, has slowed this week with nearly no new employment news coming out of the Southwest, aside from the annual appointments to the Harbor Commissioners Board. 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 net absorption was positive for the 18th consecutive quarter, but remained flat year-over-year with 410,036 total square feet of absorption. Additionally, the vacancy rate also remained unchanged from the prior quarter. Santa Monica accounted for 44% of Greater Los Angeles' second-quarter net absorption activity, and Culver City nabbed the largest lease in the second quarter when HBO signed a 128,000-square-foot lease deal there. The overall average asking rent of $3.09/SF was up 2.3% from one year ago but was unchanged from the prior quarter. Available sublease space was up 6.8% from one year ago. Although it