Grubb & Ellis negotiated the purchase of Valencia Park Executive Center, a 66,584-square-foot office property in Valencia, Calif.

The value of the transaction was $11.7 million.

The Koll Co., a Newport Beach-based private real estate investment company, bought the asset from Larkspur, Calif.-based Fowler Property Acquisitions.

The property, which is located at 25115 Avenue Stanford in the Valencia Gateway section of the Santa Clarita Valley, is comprised of one three-story building and one two-story building. The property was 70 percent leased at the time of sale.

Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.

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