Part of the four-building complex fronts the 700 block of Kimberly Avenue, while the remainder fronts the 600 block of South Placentia Avenue. The buyer is Burbank-based F&F Placentia Associates LLC.

The seller is another partnership, IRP Muller Associates LLC of Laguna Hills. Kevin Shannon of Grubb & Ellis' South Bay office and Jon Swallow and Dave Giglio of the firm's Anaheim office represented both parties in the transaction.

Though the national economy is slowing, several recent reports suggest that Orange County is faring better than most other parts of the nation. The local unemployment stands at about 2.5%, roughly half the national average, according to figures released by California's Employment Development Department.