REAL ESTATE

Covington Technologies in Fullerton said the publicly held developer had reincorporated as a Delaware corporation and changed its name to Covington Development Group Inc. . . . Principal Mutual Life Insurance in Des Moines, Iowa, sold an 85,000-square-foot warehouse leased to Nestle Corp. at 4101 Bonita Place in Fullerton to Newport Beach private investor J.W. Mitchell Jr. for $4.95 million . . . SDC Development in Newport Beach said it chose Langdon Wilson Mumper Architects in Newport Beach to design plans for offices, stores and warehouses on 160 vacant acres at Los Alamitos Race Track . . . Construction began recently on Rancho Santa Margarita’s first neighborhood shopping center, Mercado del Lago, which will include a Ralphs supermarket and Payless Drug Store, and is scheduled for completion early next year . . . Yutto and Keiko Nagata, described as private investors from Sherman Oaks, bought Pier 101, a 20,000-square-foot specialty retail center at 34255 Pacific Coast Highway in Dana Point for $4.5 million from Pier 101 Ltd. of San Clemente . . . Home builder Premier Homes in Newport Beach said it has started its own mortgage banking subsidiary, Premier Financial Service . . . El Camino Real Property Ltd. of Laguna Hills sold a two-story, 25,000-square-foot office building in Tustin for $2.6 million.