312,000-SQUARE-FOOT ORANGE FINANCIAL CENTER TRADES HANDS

ORANGE, CALIF. — An entity in a 1031 exchange controlled by Anaheim, Calif.-based Milan Capital Management Inc. has acquired Orange Financial Center, a three-tower office complex located at the intersection of Town & Country Road and Parker Street in Orange. The 312,000-square-foot property consists of an eight-story main tower and two adjacent three-story buildings. At the time of acquisition the property was 98 percent occupied by several tenants, including Word & Brown and Calsurance, a division of publicly traded Brown & Brown. The acquisition price was not disclosed. Bob Smith, Mike Kane, Paul Jones and Karen Scholte of CB Richard Ellis represented the undisclosed seller.