LOS ANGELES-Privately held Argus Realty Investors pays $16.2 million for the 68,788-sf Marina Tech Centre in Playa del Rey. Sale is latest in a string of transactions that indicate the submarket is coming back after a sluggish first half.

FULLERTON, CA-The latest report from Cal State Fullerton foresees modest gains for Southern California over the next six months. The national economy will struggle, but likely avert full-blown recession.

IRWINDALE, CA-The newspaper's California Community News unit takes 324,520 sf of industrial space here at Trammel Crow Co.'s Irwindale Business Center.

BREA, CA-The furniture retailer, which filed for bankruptcy last month, shutters more than two dozen stores across the US. Another 15 will go within the next several weeks.

LOS ANGELES-Veteran broker Drew Planting leaves post at MaguirePartners to form partnership with locally based development giant J.H. Snyder Co. The venture starts with $50 million to invest in properties with redevelopment or repositioning potential.

DANA POINT, CA-Planning commissioners and other city officials here attended a swank party at the St. Regis Monarch Beach Resort & Spa. Now, they can't vote on the resort's proposal to build a controversial beach trail until the state determines whether ethics laws were violated.

LOS ANGELES-The Sun Valley facility will generate enough electricity to supply 450,000 homes when it's completed in 2004. It will replace a '50s-era plant that currently produces less power but more pollution.

VAN NUYS, CA-The FF Realty affiliate of Fairfield Residential acquires 161-unit complex, which is almost fully leased. Seller is an offshoot of NY's Sentinel Real Estate.