LOS ANGELES—Rexford Industrial says it has closed its fifth private equity real estate investment fund, Rexford Industrial Fund V REIT. The fund closed with $127 million in capital commitments and has acquired 2.6 million square feet of industrial.

SAN FRANCISCO—Construction has improved overall in year-over-year and quarter-over quarter analysis.

BEND, OR—Compass Commercial Real Estate Services reports shows two years of decreasing vacancies, indicating slow but steady recovery from the recent recession.

LAS VEGAS—Tenant, Take-Two Interactive taking 8th and 9th floors of Office building.

RANCHO BERNARDO, CA—Drawbridge Realty Trust has acquired two buildings in the Discovery Corporate Center, for $53 million. The two properties, are leased to Broadcom Corporation.

SANTA CLARA, CA—Drawbridge Realty Trust has acquired 3201 Scott Boulevard in Santa Clara, a premier Silicon Valley property. Seller was Menlo Equities, LLC.

DALLAS—A local law firm has signed a lease to occupy roughly 15,000 square feet at the top two floors of the recently purchased former Blue Cross Blue Shield building.

SEATTLE—Trammell Crow Company has acquired 1124 Columbia Street, a 1.4 acre parcel, which includes a biotech research facility. Report indicates a $42.6M price.