112,000-SQUARE-FOOT INDUSTRIAL BUILDINGS TRADES HANDS

COSTA MESA, CALIF. — Grubb & Ellis Realty Investors, on behalf of tenant-in-common investors, has acquired 1650 Sunflower, an industrial/flex building in Costa Mesa, for an undisclosed price. The property features an approximately 109,000-square-foot sorting and distribution center and a more than 3,000-square-foot vehicle maintenance building. Built in 1976, the property recently underwent renovations, including a renovated lobby, a new roof application and 15 new truck doors. Currently, Federal Express occupies the facility. Panattoni Development Company sold the property. Financing was arranged by Gabe Potyondy and James Ko of Allied Irish Banks, plc.