BREA, CA—Los Angeles-based Palisades Capital RealtyAdvisors has purchased a 121,143-square-footoffice building at 2929 E. ImperialHwy. here from Rialto Capital and theKoll Co. for $21 million. The property, which wascompleted in 1985 and renovated in 2013, is 100% leased to severalhigh-profile companies including Zodiak InflightInnovations and UnderwritersLaboratories.

JLL's capital markets managing directorBob Prendergast and VP BakerMorphy led the JLL team in representing the seller.GlobeSt.com has learned that the buyer represented itself in thetransaction.

The stabilized asset, prominently situated on a 5.57-acre parcelat the northwest corner of Saturn St. and Imperial Hwy., offerstenants a wide variety of dining, shopping and serviceretail within walking distance. According toPrendergast, “We continue to see an uptick in investor interest forstabilized office assets in Orange County and throughout SouthernCalifornia. Investor competition will continue to be heated, withvery few properties expected to come to market in the next severalmonths.”