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Three Orange County office buildings sold as market picks up
Three Orange County office buildings sold as market picks up

Three office buildings in Mission Viejo and Newport Beach have sold in two transactions that, combined, industry observers valued at more than $90 million as investor demand for Orange County commercial properties heats up. The sales to large national investors are a sign that the county’s office market is recovering from the drubbing it took after the mortgage industry began to contract in 2007, said real estate broker Ryan Gallagher of HFF. Before that, lenders such as New Century Financial Corp. of Irvine were among the region’s largest occupiers of office space. New Century’s 2007 collapse was one of several contributors to an overabundance of space on the market...

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