CITY OF INDUSTRY, CA-The locally based development and investment firm starts work on its first new construction since 2008 with a new building at its Grand Crossing industrial center.

DENVER-The Irvine, CA-based company and the Carlyle Group acquire two properties in the Denver Metro region in this week’s roundup of commercial real estate news in the West.

BEVERLY HILLS, CA-Kennedy Wilson takes a 37% stake in the five-building portfolio, with the remaining equity owned by Kennedy Wilson Real Estate Fund IV, Fairfax Financial and the LeFrak Organization.

SANTA MONICA, CA-The New York City-based retail specialist promotes Robert Cohen to president of its Southern California division and Rachel Rosenberg to executive vice president.

LOS ANGELES-The UCLA Anderson Forecast says that GDP will continue growing steadily, but the growth will not be sufficient to produce a full recovery in the national economy.

SEATTLE-Red Lion Hotels Corp., a hotel company based in Spokane, has sold its Red Lion Hotel on Fifth Avenue in Downtown Seattle to Lowe Enterprises of Los Angeles.

HOLLYWOOD-DLJ Real Estate Capital Partners acquires BLVD 6200, which is planned for more than one million square feet of apartments and retail space on Hollywood Boulevard.

LOS ANGELES-Locally based Lowe Enterprise Investors and its partners will look for three-star quality or greater hotels that can be repositioned to take advantage of the market’s recovery.