(Mark Your Calendars: RealShare Orange County, August 18 in Newport Beach).

IRVINE, CA-The 246,763-square-foot 3 MacArthur office tower has sold for the second time in less than two years in a deal that reflects the evolving nature of the office investment market both here and throughout the US. Kevin Shannon, a CB Richard Ellis vice chairman who was one of those who negotiated both the recent sale of 3 MacArthur and its previous sale, tells GlobeSt.com that the latest sale is both an example of how the office investment market has evolved in the past two years and how it is expected to play out in the future.

The 3 MacArthur property sold to TA Associates Realty for north of $50 million and is one of four of the largest OC office sales that Shannon and other CBRE brokers have been involved in this year. The seller of 3 MacArthur, Los Angeles-based Highridge Partners, had acquired it for $31 million in October 2009—two years after Tishman Speyer Office Fund paid $83 million for the property.