LANCASTER, CA-Burnham Pacific Properties Inc. closes on the sale of its 29,000-sf interest in West Lancaster Plaza-Phase III, a 160,000-sf shopping center. The Company sold its interest to Safah Capital LLC.

LOS ANGELES-At a meeting of the Hoteliers International of Los Angeles', David Sheatsley, research director of the Los Angeles Convention & Visitors Bureau, says the LA market is unique in that room rates didn't drop much post 9-11.

CORONA, CA-Smith & Noble, a mail order catalogue, sells a 28,254-sf office building to Riverside, Calif.-based Collection Recovery Service.

OXNARD, CA-AstroCosmos Metallurgical has signed a 10-year lease valued at $3.9 million. The company will be expanding its headquarters into a 70,000-sf facility here.

OXNARD, CA-AstroCosmos Metallurgical has signed a 10-year lease valued at $3.9 million. The company will be expanding its headquarters into a 70,000-sf facility here.

LOS ANGELES-Kelly Paper Co. Inc. signs on for all of a 41,328-sf building Downtown. The building owner is Western States Technologies Inc., a Los Angeles-based real estate investment firm.

EL SEGUNDO, CA-Telasic Communications, new to El Segundo, signs on for 27,647 sf at El Segundo Research Center., a development owned by TIAA Realty Inc. The lease will commence in June.

LOS ANGELES-In an all cash transaction, Lucia Properties LLC sells the 4,200-sf Vernon Plaza to the Shin Family Trust, which is completing a 10-31 Exchange. The capitalization rate on the purchase is 7.49%.