TriNet Buys Complex

San Francisco-based TriNet Corporate Realty Trust has made its first Orange County office building purchase. The real estate investment trust said Thursday that it had acquired Canyon Corporate Center, a three-building office complex on East La Palma Avenue in Anaheim, from Magellan Corp. for $29 million.

The three buildings, which were built between 1975 and 1984, total 309,144 square feet and are fully occupied. TriNet typically purchases buildings that are fully leased, usually to one long-term user, said Elizabeth Drucker, TriNet assistant vice president. The tenants in the complex are Los Angeles Cellular Telephone Co., Experian, and Programmed Composites Inc.