IRVINE, CA— has learned exclusively that global medical-device manufacturer Masimo Corp. has purchased a 213,430-square-foot office building at 52 Discovery here from Nikken Inc. for $56 million. The sale is being hailed as the largest owner-user transaction in Orange County in recent memory.

Kurt Bruggeman, SVP, and Jay Mast, VP, with Lee & Associates Irvine, represented the seller, which has owned the building since constructing it in 1998. Oliver Ternate and Mark Zuvich of Zuvich Corporate Advisors represented Masimo. The transaction was the result of an off-market listing and was all cash.

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