CAMBRIDGE, MA-Icosystem Corp. leases 11,100 sf at 10 Fawcett St. in a city that continues to contend with a struggling office market and a thriving biotech market. The consulting company is relocating its corporate headquarters from Cambridge, MA.

WILMINGTON, MA-S.G. Torrice Co. Inc., a distributor of heating & cooling equipment and parts, leases 81,266 sf of warehouse and distribution space at 80 Industrial Way.

BOSTON-Former Governor Jane Swift's gambling study commission releases its report on whether to expand the definition of legalized gambling in the state. While the conclusion seems to focus on the economic benefits of such legislation, the report's impact will probably not carry much weight.

BOSTON-Almost exactly a year after it files for Chapter 11 bankruptcy protection, Kmart Corp., the Troy, MI-based retail chain, says it will close 326 stores. Five of the stores to be closed are in Massachusetts.

CHELMSFORD, MA-Tek Microsystems subleases 11,172 sf at 2 Elizabeth Dr. from Aspect Communications. The deal is a small but positive one in a market in which more than half of the available footage is sublease space.

STOUGHTON, MA-The town plans on buying the 80-acre Libby Farm property on West Street for $1.665 million. While a portion of the land can be developed, the town manager says that the town plans on preserving the site as open space.

BOSTON-FAO Schwarz, the upscale toy retailer, is preparing to close the doors on its 23,000-sf store. While a company representative insists the company has not made its final decision yet, the store is currently in the midst of a closing sale.

BURLINGTON, MA-eMed Technologies relocates its headquarters from Lexington, MA to 24,400 sf at 76 Blanchard Rd. A representative of the property owner, Archon Group, emphasizes that the current market provided the tenant with many different options to choose from.