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L.A. commercial property sales decline but total surpasses slumping Manhattan

L.A. commercial property sales decline but total surpasses slumping Manhattan

Sales of commercial properties in Los Angeles County slipped in the first half of the year but still outpaced every other real estate market in the country, including Manhattan.

High-priced trades of hotels, shopping centers and industrial properties helped launch L.A. County to an estimated $12.6 billion in sales, according to a study released Thursday by property data provider Real Capital Analytics.

That total was down 11% from the first half of 2016, but property sales in Manhattan, last year’s leader, fell much more — 55% to $10.6 billion as big investors such as pension and sovereign wealth funds grew more wary of pulling the trigger, said analyst Jim Costello of New...

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