ING Realty, Muller Buy 5 R&D; Buildings
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ING Realty Partners LP and Muller Co. said Friday that they jointly acquired five research and development properties, three of them in Orange County, for $77.4 million.
ING, a real estate developer and investor, and Muller, a property management firm, are both based in Laguna Hills and have been partners in past deals. The buildings, which total about 900,000 square feet, are 90% leased, said ING Vice President Jon Muller.
The companies purchased the Cypress Pointe Business Park, a 266,323-square-foot building in Cypress; the 212,641-square-foot Newport Corp. building in Irvine; the 103,509-square-foot University Business Park in Placentia; the 175,819-square-foot Gateway Corporate Center in Diamond Bar, and the 135,269-square-foot Babcock Building in La Mirada.
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