Market fundamentals in all industrial markets remain strong. In the 4th Quarter of 2012, all office markets in Southern California, with the exception of Los Angeles County, posted slightly lower vacancy levels from the previous quarter. The outlook for the retail market is for continued recovery. The Southern California market remains one of the nation’s premier multi-family markets, with low vacancy and high rents. Full snapshot: http://bityurl.com/2afa89. Source: Vanguard Realty Advisors Commercial Real Estate Appraisal & Consulting Firm, 4Q 2012.