The International Corporate Park is seven miles east of the airport. The land is part of a 2,672-acre parcel purchased by Excel earlier this year for $18.6 million. The remaining property, bordering the high-traffic Beeline Expressway, is currently zoned for industrial-office development and already has much of the on-site improvements in place, Excel officials say.

Legacy also announced its REIT affiliate, Price Enterprises Inc., has completed a previously announced sale of two office buildings in Sacramento, totaling 138,575 sf for $22.1 million, and the sale of a 120,615-sf retail center in Azusa for $4.2 million. Price also is in escrow to sell two other shopping centers for about $22 million. Excel Legacy did not disclose the buyers in the transactions.