LOS ANGELES-The CityPlace site covers eight city blocks formerly occupied by the Long Beach Plaza, an enclosed mall opened in 1982 and closed in 1999. Developers Diversified Realty Corp. is the master developer.

TORRANCE, CA-A group of West Los Angeles investors led by Deborah Nichols of Pacific Capital Group have acquired a 67,000-sf multi-tenant industrial complex in Torrance.

EL SEGUNDO, CA-Three office property transaction in the South Bay have closed covering 49,000 sf of office facilities valued at $8 million in total consideration. The increased activity of tenants in the fourth quarter, along with a continued increase in aerospace contracts, has begun to counter the negative absorption that was seen here in 2001.

SHAFTER, CA-State Farm Insurance leases half of a 168,000-sf, single-story industrial building at One Fanucci Way in the International Trade Transportation Center. The five-year deal is valued at $1.4 million.

LOS ANGELES-"By managing direct, it is easier to consolidate vendors and supplies for economies of scale, producing lower operating costs," says Jeffrey Dritley, managing partner of Kearny Real Estate Co.

CITY OF COMMERCE, CA-The Southern California-based outlet developer assumes management of Citadel Outlets and enters into exclusive negotiations with the City of Commerce to purchase the 147,000-sf center and related office space for around $50 million. A retail expansion would follow.

LOS ANGELES-The City Council's subsequent unanimous approval of the Trust Fund proposal clears the way for city, business and non-profit leaders to implement a delivery plan of 3,000 to 4,000 targeted homes to be delivered to Los Angeles annually

LONG BEACH, CA-The seven-story, institutional quality mid-rise office building brought a selling price of $125 per square foot. Built in 1982, the structural steel and glass building is 91% occupied.