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REAL ESTATE : State Teachers Retirement Fund Purchases Warehouse in Anaheim

July 05, 1989|Michael Flagg, Times staff writer

The California State Teachers Retirement System bought another piece of Orange County real estate recently, a 126,000-square-foot warehouse and distribution building in Anaheim.

The retirement fund paid $6.9 million for the building, which is at 5455 E. La Palma Ave. It is leased by three tenants, said Coldwell Banker Commercial Real Estate Services, which handled the transaction for the seller, Lincoln Property Co. in Irvine.

Last year, the retirement fund made the third-largest real estate purchase in Southern California when it paid $83 million for two office buildings and a restaurant at Newport Center in Newport Beach, said market researcher COMPS Inc.

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