The new Knapp asset is at 43460 Ridge Park Drive in Temecula, reports Gary DiMartino of TOLD, who represented Knapp. The buyer acquired the building for slightly more than $7.9 million from Crystal Point LLC, which was represented by Lee & Associates.

The two-story, multi-tenant office building was purchased as a fully leased investment. One of the tenants is an executive suites and the buyer will take over the management of the suites from the seller, DiMartino notes. He adds that the purchase of the Temecula building completes an exchange in which DiMartino also represented Knapp Street Properties. That transaction was the sale of two flex buildings in Chatsworth in June 2003.

In the Irvine transaction, Professional Real Estate Services Inc. purchased office buildings totaling 36,563 sf at 2062 & 2070 Business Center Drive from Barclay Associates, according to George Economos, Steve Economos and Geoff DeWolf of NAI Capital Commercial, who represented the buyer.

The buildings, known as Airport Plaza, are each two-story, garden style, multi-tenant buildings and were purchased as leased investments. Barclay Associates represented itself in the transaction.