According to David Oden and Tom Thompson of Coldwell Banker in Newport Beach, the buyers of the El Segundo property acquired the office building at 2355 Utah Ave. from Layton-Belling & Associates of Newport Beach, which had owned the property for five years. Oden and Thompson represented the buyer, with the seller represented by Kevin Shannon, Mike Moore, Scott Schumacher, Sean O'Donnell, and Bryon Ward of Grubb & Ellis.

Oden notes that the transaction is the most recent in a series of acquisitions for the buyers, who were attracted by the presence of Xerox as a long-term tenant with favorable lease terms. The office building was constructed in 1968 and has been occupied by Xerox since then.

In the Burbank transaction, 5015 Clinton Suites LLC bought the Downtown Burbank building from Prime Equity LLC. The property is a four-story class-B office building at 175 E. Olive Ave. that was 100% occupied at the time of the sale. Matthew Sullivan and Shaun Stiles of Colliers Seeley International represented the buyer and the seller. Sullivan notes that the building attracted multiple offers from various private 1031 exchange investors.