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CYPRESS, CA-Foremost Business Parks LLC of Laguna Hills bought a 58,601-sf multi-tenant industrial facility at 5606 through 5736 Corporate Ave. in Cypress for $6.2 million from Laguna Hills-based IRP Muller Associates, an investor in and developer of properties in the western United States.

The Cypress property is 84% leased primarily to Japanese businesses including Mitsubishi Electronics, Hyundai Electronics America, Yaskawa and other service-oriented businesses.

Dan Vittone of Voit Commercial Brokerage, who represented the buyer along with partner Alan Pekarcik, tells GlobeSt.com that the single-story building was constructed in 1987 and is part of Cypress Pointe Business Park.

The transaction was among several deals closed recently by Muller, including the $19.5 million sale of a 212,283-sf Irvine, Calif. headquarters complex housing Newport Corp., a publicly held communications and electronics firm. In that deal, Vittone and Pekarcik represented buyer BCSD Properties.

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