ORANGE COUNTY, CA-Los Angeles-based MPG Office Trust Inc. has sold a local property located next to the Santa Ana (I-5) Freeway, beside its 500 Orange Center office campus in Orange to the University of California, Irvine. The unused land was sold for $5 million.
The land could hold nearly 960,000 square feet of parking space or 900,000 square feet of office space. UCI is planning to use the land for staff parking. MPG has obtained $4.7 million of proceeds in the transaction.For the full story, go to Orange County Business Journal.
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