ORANGE COUNTY, CA-Private investor buys flex-tech building in Irvine, while religious group buys office space in Anaheim and automotive manufacturer extends lease in Irvine.

NEWPORT BEACH, CA-The case, filed last week in Orange County Superior Court by a law firm known for its focus on class-action litigation, alleges breach of fiduciary duty by the REIT's board of directors.

NEWPORT BEACH, CA-The development and investment firm plans to redevelop the property, with construction completed by the end of the year.

SAN CLEMENTE, CA-The Lusk Company withdrew its application for a coastal development permit after learning the California Coastal Commission staff recommended a denial on its proposed development.

IRVINE, CA-The latest purchase for Western States Technologies is currently leased out to an electronic component distributor.

ORANGE COUNTY, CA-Local Grubb & Ellis office brokers two deals with out-of-state firms totaling $12 million. The deals involve sale of the Art Institute Building in Los Angeles and lease of an industrial space in Fullerton by a linen manufacturer.

IRVINE, CA-An industry analyst says there is more parity today between REIT shares being traded on Wall Street and value of the underlying real estate.

LAGUNA HILLS, CA-The property's two buildings were 90% leased at the time of sale to Sav-Most Desert Rancho LLC.