Investment Fund Buys Orange Office Complex

Colton Properties Inc. in Irvine said it has bought the Union Bank Square office complex in Orange on behalf of the Freedom Fund for $43.5 million.

Colton, which is managing the investment fund, said in a press release that the complex next to MainPlace/Santa Ana shopping center consists of 389,000 square feet of space.

The seller was 500 South Main St. Associates. Robert S. Smith of CB Richard Ellis represented the buyer and the seller.