NEWPORT BEACH, CA-Two local real estate investment groups have struck a deal for the sale of the 11-acre Vallecitos Business Center in San Marcos. The property is currently 98% occupied.

FREMONT, CA-City officials expect to pay $15 million to acquire land and develop it into a cricket field. Two sites are under consideration: one at Palm Avenue and Interstate 680, and one in south Fremont near Interstate 880 and Auto Mall Parkway.

ORLANDO-Commercial demand for 200,000 sf of new meeting space in the central business district is low, consultants find. Now Orlando Magic owner Rich DeVos is trying to find out if the 10-year-old, 17,500-sf , $110 million TD Waterhouse Center can be rebuilt and retrofitted to produce the $10 million additional revenue the team needs to break even annually. If it can't, the NBA team may look for new quarters in 2004.