SAN DIEGO-Local construction industry veteran Stephen C. Roel has formally retired as chief executive officer of the family business bearing his name.

CARLSBAD, CA-Construction has been completed for the $3.8 million first phase of Kelly Corporate Center, a multi-tenant office building at the corner of Hidden Valley Road and Palomar Airport Road.Phase

SAN DIEGO-Tenant improvements to the tune of $9 million are complete at the Sunroad Corporate Center in the Eastgate Mall area.

CARLSBAD, CA-Construction of the $20 million Genesis Office Park is about to wrap up. The 102,000-sf office complex is located within the Carlsbad Research Center.

SAN DIEGO-The Department of General Services, representing the Department of Parks and Recreation, has signed a six-year lease for 9,388 sf of office space near Mission Valley.

SAN DIEGO-A bill creating the San Diego County Regional Airport Authority, a new agency to oversee Lindbergh Field and possibly expand or relocate the airport continues to move through the Legislature.

SAN DIEGO-Due to the closure of the financial markets and concurrent problems with mail delivery services, Price Enterprise has extended its exchange offer for debentures and secured notes of acquisition partner Excel Legacy Corp.

LA JOLLA, CA-The real estate investment division of CB Richard Ellis has arranged $14 million in financing for the purchase of Torrey Financial Building by Manchester Resorts.