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LOS ANGELES-The New York-based insurance giant acquires 239,086-sf Continental Grand Plaza II office complex. The deal marks one of the highest prices ever paid for a South Bay property.

CARLSBAD, CA-The state's largest employee retirement fund has finished its first major investment in the senior housing industry--a portfolio of properties valued at about $115.5 million.

SEATTLE-Thanks in part to Webvan's well publicized shutdown, Albertson's online division has seen its orders more than triple this week in the Seattle area, but it won't be needing any warehouse space. The Boise, ID-based grocer now uses its brick-and-mortar stores to fulfill orders.

REDMOND, WA-Home Depot and Fred Meyer have snatched up the land, located at the end of Highway 520. The joint purchase was split equally. Nearly 300,000-sf of retail is planned.

ST. PAUL, MN-The joint venture with a private developer would be a first for the Port Authority, which is looking to develop a polluted eight-acre parcel, the last industrial site in Energy Park.

HOUSTON-Warehouse Associates is gearing up to build its third distribution center in two years. The newest undertaking will be positioned on 50 acres that are under contract in the near southwest submarket. The acreage is capable of supporting 800,000 sf.

SUNRISE, FL-Affiliates of the Virginia-based real estate investment trust are borrowing $472 million underwritten by Morgan Stanley and Goldman Sachs on the 2.1 million-sf Sawgrass Mills retail center in this southwest Broward County community, 26 miles north of Miami.

BELLEVUE, WA-The locally based Laptop Lane has announced the opening of its newest business center at Seattle-Tacoma International Airport. The new Laptop Lane location in the North Satellite, between gates N8 and N9, is the ninth store the company has added this year.