1950 W. Florida Purchases 8.5 Acres in Hemet

Grubb & Ellis Co. announced that 1950 W. Florida LLC purchased 8.5 acres of land in Hemet for $3.7 million.

The property, which is located at 1950 W. Florida St., was sold by a private investor. The buyer plans to develop a retail center on the site, but the scope and timetable of the project have not yet been finalized.

Bruce Kaufer, Mary Ann Osborn and Baron Jones of Grubb & Ellis' West Los Angeles office represented the buyer and the seller in the transaction.

For more information, contact Kaufer at (310) 477.3800.

TA Associates Purchases Mission Center Office Park in San Diego for $27.5 Million

Grubb & Ellis Co. announced that TA Associates Realty, a Boston-based pension fund advisor, purchased Mission Center Office Park, a 180,730-sq.-ft., three-building office park in San Diego. The transaction was valued at $27.5 million.

The three-story, wood-frame buildings are at 5333 and 5353 Mission Center Rd. and 7947 Mission Center Ct. The property, which was built in 1974, was sold by Mission Center Office Park LLC of Brentwood. The asset was 82-percent leased at the time of sale.

Kevin Shannon of Grubb & Ellisp South Bay office and Louay Alsadek of Grubb & Ellis/BRE in San Diego represented the buyer and the seller in the transaction.

For more information, contact Shannon at (310) 491.2000.