CB Richard Ellis dumps mid-rise office complex

Equity fund grabs space in Orange County, Calif.

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CB Richard Ellis arranged the sale of a 197,817-square-foot office building in South Coast Metro, Calif. The value of the transaction was not disclosed. The property, 3 Hutton Centre, is a class A, 10-story office building with an adjacent six-story parking garage. Prominently positioned within Orange County's Greater Airport Area, 3 Hutton Centre is situated within Hutton Centre, a 43-acre, master-planned commercial development surrounding a three-acre lake. CB Richard Ellis Investors sold the property to Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF). Robert Smith, Michael Kane and Jeff Morgan of CB Richard Ellis' Newport Beach office, along with John Weiner of CBRE's Irvine office, represented the seller. Los Angeles, CB Richard Ellis is a commercial real estate services company. CB Richard Ellis Investors LLC is a real estate investment management company. *** Send a Letter to the Editor for publication.Send a comment or news...