AEROSPACE

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. and Vought Aircraft Co. in the past two years, pledged to consolidate the three companies by closing 13 million square feet of office space during the next few years.