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LOS ANGELES-Systems company L-3 Communications signs five-year, $2.5-million contract for manufacturing and office space inside Watson Land Co.'s Dominguez Technology Center. The company plans more than $1 million in interior improvements to its new building.

ORANGE COUNTY, CA-Federal auditors say local Housing and Community Development Department and highly regarded Mercy House Coalition did not properly account for nearly $300,000 in spending. HUD wants $70,000 of the money back.

LONDON-Bank lending to property companies is rising at a faster rate than ever before, according to the latest figures from the Bank of England.

FT. WORTH-Redevelopment plans aren't available, but an 87,000-sf shopping center is ticketed for a makeover into an upscale retail venue. Woodmont is teaming with owner Corrigan Real Estate Services for 5000 S. Hulen St. Shopping Center's makeover.

SAN FRANCISCO-Several refurbished buildings are set to come back online this summer the heart of San Francisco's downtown business district. One of them, on Taylor Street, has been fully leased to ABM Industries. The others are actively marketing their space.

HOLLYWOOD, FL-The locally based developer is getting $100.78 per sf in a deal valued at $282.8 million. The assets comprise 2.8 million sf of gross leasable space and a rent roll of 250 tenants with average occupancy at 97%.

ORANGE COUNTY, CA-Grupo Gigante's U.S. arm is hunting for sites in Santa Ana and Anaheim. The grocer operates more than 200 stores south of the border, making it one of Mexico's biggest grocery chains.

RAHWAY, NJ-Denholtz Associates, based here, has paid approximately $186 million for a national office and flex/industrial portfolio from Chicago-based Banyan Strategic Realty Trust. Cohen Financial advised Banyan; Arthur Andersen LLP advised Denholtz.