REAL ESTATE
Compiled by Michael Flagg, Times staff writer
Sammis Co., Irvine, paid $9.9 million for nine buildings in a Brea industrial park.
Selling was K&M; Partners in Brea, said Coldwell Banker, which handled the deal.
The park, which includes 157,000 square feet of office and industrial space, is at 500 Central Ave.
Also in Brea, which is undergoing a boom in commercial development, construction got under way this week on a 229-room Embassy Suites Hotel at Brea Place, a $200-million office and retail project in Brea.
Officials said construction of the hotel had been “a high priority” for years.
Brea Place and the hotel are a joint venture between Lowe Development Corp., a Los Angeles developer, and New England Mutual Life Insurance Co.
