Grubb & Ellis Co. represented Irvine, Calif.-based Dolphin Partners in the purchase of a 54,249-square-foot office building in Lake Forest, Calif.

The transaction was valued at $8.5 million.

Irvine-based Colton Properties sold the class-B property, which is located at 23461 South Pointe.

Grubb & Ellis and Lee & Associates represented the buyer in the transaction. Bob Smith with CB Richard Ellis represented the seller.

Grubb & Ellis is a global provider of integrated real estate services.

***

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