Industrial, Medical Office Sales Total 146,000 SF

In the Brea deal, Lee & Associates reports that Blaine Convention Services bought the 107,084-square-foot industrial building at 114 Berry from Peninsula Finance Corp. The buyer was represented by Brad Gilmer of Lee & Associates Orange Inc. The seller was represented by Clif Fincher of Lee & Associates Orange Inc., Kurt Bruggeman and Jay Mast of Lee & Associates Irvine Inc.

In the second industrial deal, Voit Real Estate Services' says that the $3.8 million sale of a 27,796 square-foot industrial building at 1260 N. Fee Ana St. in Anaheim marked the highest price per-square-foot for a property sale in North Orange County of more than 20,000 square feet within the past six months. US Union Tool Inc. acquired the property in a 1031 exchange from Caldwell Real Estate Holdings LLC, which was represented by Mike Vernick and Mike Bouma of the Anaheim Metro Office of Voit's brokerage division.

The Voit brokers note that the seller preserved the equity from the property to "redeploy the money into a more diverse investment." Voit is identifying suitable lease opportunities for the client to "dramatically reduce the company's occupancy costs," Vernick and Bouma say.

Buyer US Tool is relocating its corporate headquarters from Buena Park to the new building in Anaheim, which it plans to occupy for its tool manufacturing and distribution operation within the next four months. The buyer was represented by Tim Cronin of Lee & Associates.

In the medical office building sale, NAI Capital reports that Palm Investment Group LLC acquired an 11,047-square-foot building at 20311 SW Acacia, in Newport Beach from Garp Properties LLC for $1.8 million. The seller was represented by NAI Capital brokers Steve Economos, George Economos and Geoff DeWolf. The buyer was represented by Roger Niez, also with NAI Capital, who notes that the sale was all-cash at a 7.15% cap rate.