The San Fernando Valley’s office vacancy rate dropped slightly in the third quarter to 13.3 percent from 13.4 percent in the prior quarter and compared with 14.3 percent a year earlier. Class A rents moved to $2.74 a square foot, up from $2.72 in the previous quarter. Net absorption was 80,053 square feet, far above its loss of 73,981 a year ago.

Main Events

-W-Net Inc. sold Shamrock Plaza, a 68,951-square-foot property at 28720 Roadside Drive in Agoura Hills, to Frank Sarabia.

-Majestic Asset Management purchased a 347,119-square-foot industrial property at 1461 Lawrence Drive in Thousand Oaks from Western National Life Insurance Co.

-Douglas Emmett Realty sold a 160,509-square-foot office at 14727 Ventura Blvd. in Sherman Oaks to Sandstone Properties.

-Guitar Center renewed a lease in Westlake Village