Complex Sold in Santa Ana
An $8-million, four-building complex at 1928 S. Grand Ave. in Santa Ana was sold and has subsequently been leased by Collins Fuller Corp., the brokers representing both buyer and seller.
The seller was Cooper Industries of Houston, and the buyers were the Muller Co. of Newport Beach, and its financial partner, Copley Real Estate Advisors, a real estate arm of New England Mutual Life Insurance Co. in Boston.
Mercantile Center of Los Angeles, operator of the Cooper Building and lessee for the entire complex, has signed a five-year, $5-million lease. The four buildings are tilt-ups totaling 200,000 square feet.