In the office deal, the Colton Co. of Irvine purchased the 192,343-sf Clauset Centre at 3100 and 3130 S. Harbor Blvd. in Santa Ana from a fund managed by Lend Lease Real Estate Investments. The Clauset Centre sale was brokered by the CB Richard Ellis team of Robert Smith, Dean Chandler, Michael Kane and Karen Scholte, all from the Newport Beach office of CBRE. In the industrial transaction, the San Francisco-based McMorgan & Co. investment group acquired the 127,122-sf La Palma Distribution Center at 5455 East La Palma Ave. from TA Associates Realty of Boston. Smith, Kane and Scholte brokered the sale, along with Jim Wootan of CBREs Anaheim office.

Terms of the deals were not disclosed, but real estate industry sources outside of the deal believe the Clauset Centre probably sold for upward of $20 million and the distribution center would likely have commanded $8 million or more at today's prices.

Clauset Centre is in the Greater Airport Area and consists of two mid-rise office buildings, one of three stories and one of five stories, with a common underground parking garage. Its tenant base includes companies in the professional services, hospitality services, telecommunications, engineering and technology industries.

The Clauset Centre acquisition is the second closing in recent days by the Colton Co., which recently sold two adjacent office buildings totaling 66,363 sf, at 19772 and 19782 MacArthur Blvd. to Professional Real Estate Services Inc. of Newport Beach for $9.7 million in a deal reported earlier by GlobeSt.com.

The Colton Co., composed of three Southern California real estate companies, has been acquiring commercial real estate in Orange County since 1993. The company is a sponsor of investment programs that acquire real estate on behalf of investors and its own account.

The La Palma Distribution Center acquired by McMorgan & Co. is 100% leased to two tenants, Little Caesar Enterprises Inc., and Atrium Companies Inc. McMorgan, founded in 1969, manages a variety of assets including real estate, stocks, bonds and cash, with a total asset portfolio valued at more than $21.8 billion. The real estate portion of the company's assets totals more than $869 million.