Shannon and his team started work on the transaction when theywere with Grubb & Ellis, but the team has since moved to CBRichard Ellis. David Giglio and Jon Swallow of Grubb & Ellis,along with Shannon's team, represented the seller, Argus Realty.The other members of the Shannon team are Michael Moore, ScottSchumacher, Paul Perkins and Rob Hannan.

The building that Asset Management Consultants bought is at 5460E. La Palma Ave. It is a low-rise structure in a master plannedpark in what Shannon describes as "the highly desirable NorthOrange County office submarket, with identity on the La PalmaCorridor, one of Orange County's most prominent and concentratedbusiness centers."

The acquisition of the La Palma building is one of two recentdeals in the county in which sources have cited the strength of theOrange County office market, which is one of the tightest inSouthern California. In the other deal, Chicago-based WrightwoodCapital commented in providing $7.9 million to finance theacquisition of an office building in Garden Grove that "The demandfor office space in the Orange County market has been strong."