ORANGE COUNTY, CA-The aerospace giant signs a lease valued at $12 million for 98,040 sf of office space inside Irvine Co.'s Discovery Business Center.

LOS ANGELES-The 24,635-sf, fully leased office building in Hermosa Beach has sold for $5.4 million. The building's major tenant, occupying half the space, is Aon Corp., the insurance brokerage and underwriting organization.

LOS ANGELES-A 290,000-sf office and retail project will soon rise in El Segundo's Continental Park, the 3-million-sf mixed-use complex just south of Los Angeles International Airport that includes office space, restaurants, a hotel, a movie theater and a 100,000-sf fitness facility.

NEWPORT BEACH, CA-A Newport Beach-based real estate investment group has paid $2.9 million for a 56,540-sf retail center in Desert Hot Springs. The complex was 90% occupied at time of sale.

LOS ANGELES-A two-story, 50,000-sf office building in Carson changed hands recently for $3.4 million. The buyer, a manufacturer of computer scanners, plans to relocate its headquarters there.

LOS ANGELES-A Beverly Hills-based investor acquires a nine-building, 195-unit apartment portfolio in Playa del Rey. The buildings sold at a premium based on the rent potential and savings in management costs due to the close proximity of the properties.

ALISO VIEJO, CA-Locally based Shea Properties has begun grading on a 277-unit multifamily project in Santa Rosa. The $44-million Acacia on Santa Rosa Creek is slated for completion in the fall of 2002.

HUNTINGTON BEACH, CA-The 30,000-sf industrial building will be occupied for five years by a provider of custom organization systems, the latest in a long line of industrial users snatching up space in the county's tight market.