Collins, Turner Buy Office Buildings

Collins Commercial Corp. and Turner Development Corp. of Newport Beach have purchased two low-rise office buildings from Cox Communications in Irvine for $4.8 million.

Cox now occupies the buildings, a two-story structure with 17,000 square feet and a one-story structure with 11,000 square feet, in the 2300 block of Morse Avenue.

Collins, a real estate brokerage, in June will be moving its 25-employee corporate office to the smaller building. No tenant has been found for the two-story structure, although the firm is negotiating with a possible occupant, said Michael Collins, president of Collins Commercial.

Collins and Turner have formed a partnership, Irvine Office Venture LLC, and plan to acquire additional office and industrial properties in Southern California.