First Standard adds industrial property

Takes 140,000 square feet in Orange County, Calif.

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Grubb & Ellis Co. represented Santa Ana, Calif.-based First Standard Real Estate in the acquisition of a 140,000-square-foot industrial building in Santa Ana, Calif. The transaction was valued at $8.6 million. Costa Mesa-based Prism/Birch St. Associates LLC sold the 10-acre property, which is located at 2530 Birch St. Scott Read and Bryon Ward of Grubb & Ellis' Newport Beach office represented the buyer and seller in the transaction. "The buyer plans to refurbish the property and has placed it on the market for sale or lease with Grubb & Ellis," Read said, who is marketing the building with Ward. "Leasing and/or sale activity on the property will determine whether or not he occupies the property for his business." Grubb & Ellis is a global provider of integrated real estate services. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....