Layton-Belling Buys Metroplex II Building

Layton-Belling Associates, a Newport Beach-based real estate investment and development firm, bought Metroplex II, a six-story office building in Anaheim, from USX Realty Development for $15.1 million.

The property at 2401 E. Katella Ave. is 95% leased, said Grubb & Ellis, which represented the buyer and seller.

In addition, the commercial real estate firm said that Ewing Development of Newport Beach bought 17 acres in Cypress, where it plans to build a 300,000-square-foot business park for $9 million.

The property, sold by a group of private investors, is at the southwest corner of Cerritos Avenue and Walker Street.

The development, which will be named Cypress Corporate Park, will be Ewing’s largest project to date. It will include four buildings and is expected to be completed by spring 1999, said Tom Ewing, owner of the development firm.