William Hugron of the Charles Dunn Co., who represented the buyer and the seller, Abele International, says Chase now is in escrow to sell the building again to two separate owners.

Hugron says one buyer will acquire 12,000 sf of the building and another will purchase the remainder. The larger part of the property will be renamed "Orange County Labor Center" and will be marketed as individual office condominiums.

Originally the property was built as office condominiums, but later it was converted into multi-tenant space Hugron says. Once Chase closes escrow with the new buyers, Hugron says, the buyer of the larger portion of the building will sell the office condos to labor unions. The newest transaction will be the fourth sale of the property in two years, Hugron says.