SAN FRANCISCO—Prologis has spent several years planning the conversion of Menlo Science & Tech Park for higher and better use, according to a source.

NEW YORK CITY—The annual commercial real estate forecast report by Situs, RERC, Deloitte, and the National Association of Realtors points to continued increases in commercial real estate value and pricing this year.

SAVANNAH, GA—Columbus, OH-based private equity firm Rockbridge reports it plans to develop a 173-room boutique hotel in the historic district here.

LOS ANGELES—The Pacific Northwest-based grocer expands its footprint along the West Coast with the acquisition of Vons, Pavilions, Albertsons and Safeway stores as part of a divestiture in the merger between Albertsons and Safeway.