Bank of America Buys Building

Bank of America has paid more than $12 million for a 115,000-square-foot office building at 3151 E. Imperial Highway in the 32-acre, $90-million Brea Tech Center in Brea. The bank will consolidate its consumer loan division in the building beginning in July.

Coldwell Banker represented the seller, Brea Tech Associates, a joint venture of JZK Associates and Cal Fed Income Properties, while Travers Realty Corp. represented the bank.

The move marks the second company to move into the project with a major consolidation. The first was Allstate Insurance Co.