CHICOPEE, MA-In a move that local officials see as crucial for the region's growth, Pioneer Packaging Inc. chooses to stay in the area by purchasing an 8.7-acre parcel in Airpak West, an industrial park which is owned by the Westover Metropolitan Development Corp.

NEW YORK CITY-With the firm now under his sole leadership, Adam C. Hochfelder has begun tweaking the firm's management team. Anthony Westreich has been named president and Bruce R. McLean is the new chief investment officer.

LOS ANGELES-Mounting job losses and the growing stockpile of available space threaten to make this a challenging year for the local office market, according to a report issued by the Marcus & Millichap Real Estate Investment Brokerage.

ALISO VIEJO, CA-Shea Properties has broken ground on Phase I of its 40-acre mixed-use project here. The first phase, which is being built by Snyder Langston, will consist of a five-story class A office building designed to encompass 177,000 rentable sf, as well as 726 parking spaces.