REAL ESTATE
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The Beat Goes On: Given the bargains available in Southern California’s depressed commercial real estate market, an increasing number of companies are upgrading rented space or buying buildings outright as a way to cut down on real estate costs or make long-term investments.
A recent example is Formula Consultants Inc., the Anaheim computer services firm that just bought a building in which it had rented space for nearly 10 years. For $2.7 million, Formula purchased the 50,000-square-foot facility at 100 S. Anaheim Blvd., where it occupies 16,000 square feet.
The building, which also houses the Anaheim Chamber of Commerce, is 80% leased. Tom Tournat, a broker for Grubb & Ellis, negotiated the deal.
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