LOS ANGELES-The 20-year veteran of Lee & Associates becomes the first CEO in the 32-year history of the firm as it charts a course for continued growth.

MARINA DEL REY, CA-Institutional Property Advisors lands the listing for the leasehold interest in the Bay Club Apartments & Marina.

IRVINE, CA-CIP Real Estate buys the multi-tenant industrial portfolio from Union Development Co. in this week's roundup of commercial real estate news in the West.

LAS VEGAS-The Newport Beach, CA-based brokerage firm names industry veteran Frank J. Marretti III as managing director of the new office, which is in the Howard Hughes Center.

SAN FRANCISCO-Hessam Nadji of Marcus & Millichap talks with GlobeSt.com's Bob Howard about the momentum the company's Institutional Property Advisors subsidiary has been building and the search for a long-term leader for the group.

LOS ANGELES-The L.A.-based developer starts construction on a 25-unit project and nears completion of a 21-unit development, both in West Los Angeles.

SANTA ANA, CA-Grubb & Ellis Healthcare REIT II acquires the eight-property medical office building portfolio totaling 156,220 square feet from White Plains, NY-based Seavest.

HOLLYWOOD-Redwood Principal Scott McCarter tells GlobeSt.com that the Newport Beach-based company is under way on significant interior and exterior upgrades to the apartments.