The $13 million Newport Beach property is a 68,425-sf building at 4350 Von Karman Ave. that the buyer acquired from LNR Partners. George Economos and Steve Economos of NAI Capital Commercial represented both the buyer and the seller. The four-story office building is in Koll Center Newport and was recently renovated. It overlooks a pond and landscaped grounds, with frontage on Von Karman. The buyer will occupy the fourth floor for corporate offices and the seller, LNR, will lease back the second and third floors, notes Steve Economos.

In the city of Orange deal, the school district bought a 43,191-sf building at 265 S. Anita from VMA Crossroads. David Knowlton, George Economos and Steve Economos of NAI Capital Commercial represented the buyer. The two-story building has a Koi pond and two small waterfalls in the courtyard, surface parking and frontage on the 57 Freeway. The building, which the school district purchased as an investment, is known as Crossroads Office Park because it is located close to the 57, 5 and 22 Freeways. It was approximately 95% leased at the time of purchase. The seller was represented by Mark Larson of Grubb & Ellis.