May 20, 1995 |
Northrop Grumman Sells Research Facility: The Los Angeles-based firm sold its 34-acre Palos Verdes Peninsula research and development campus to Cayman Development, a real estate developer, after having the property on the market for four years. The sale was conducted by a sealed bid arranged through Santa Monica-based Kennedy-Wilson International. The purchase price has not been disclosed. The asking price in November was $12 million. Northrop, which acquired Grumman Corp.