Investor Pays $2 Mil for Office Complex

ORANGE, CA-Orange’s Summit Office Building is under new ownership, as the facility has changed hands in a $2-million deal.The 24,000-sf office building was 100% occupied at the time of sale. It is located at 1110 Chapman Ave.

The buyer, a Los Angeles-based private investor, was represented by Erik Messinger of Grubb & Ellis’ Anaheim office. The seller, Virginia Military Institute, was represented by Dawson Davenport of Coldwell Banker Commercial.

The transaction follows the $11.5-million sale of a Santa Ana office building. The 113,000-sf facility was sold to the House of Sportsman, a California-based corporation, as reported last week by Globest.com. Located at 2700 N. Main St., the 12-story building is known for its rooftop time and temperature sign.