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BUENA PARK,CA-John Saunders’ Newport Beach-based Saunders Property Co. acquired Buena Park Commerce Plaza, a 155,384-sf office complex in Buena Park, for $17.875 million from a partnership of Laguna Hills, Calif.-based Birtcher Property Services and New York-based Praedium Funds.

Jeff Hanson of Grubb & Ellis tells GlobeSt.com that the sellers, who purchased the property from Cornerstone Advisors, had owned the complex for two years. Hanson and Gregg Herbert of Grubb & Ellis represented the buyer and the sellers, both of whom are active investors in Southern California real estate.

Hanson says the office development has been owned by institutional investors since it was built. The complex, consisting of two twin buildings, is at 6301 Beach Blvd. and was 84.3% leased at the time of sale. It is built of steel frame and concrete reflective glass, with three-story atrium lobbies. Major tenants include Conway Western Express, a national trucking company, and Friendly Hills Health Care.

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