Barry Knudson of the Newport Beach office of CB Richard Ellis represented the seller, with the buyer represented by Andy White of the Anaheim office of CB Richard Ellis.
Optima, a nationwide mortgage banker, plans to occupy the vacant space and take advantage of the historic low interest rates to cut the company's occupy costs, the CB brokers say. The building was 49% leased at the time of sale. The sale is one of a number of commercial real estate transactions in the past two years--both leases and sales--involving mortgage companies in Orange County. Brokers say that the mortgage companies are thriving because of low interest rates that are driving home sales and other real estate transactions.
Touchstone Investments is also selling two other buildings in the office park, according to CB. Touchstone Investments is an active investor in California office and industrial properties with a portfolio valued in excess of $100 million.
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