Thirteen Orange County industrial buildings owned by Edison Co.'s real estate subsidiary, Mission Land Co., have been purchased by El Segundo-based real estate investment trust Kilroy Realty Corp.
The buildings, which are 10 to 20 years old, were part of a $43.6-million property sale that included a small office building in Torrance and a warehouse in Ontario.
Mission, which had developed more than 60 industrial buildings in Orange County, many of them in Garden Grove, has been trying to liquidate its real estate portfolio for years. "The properties involved in this sale represent the jewel of the holdings," said Timothy Joyce of the Seeley Co. in Irvine, which brokered the deal.
Kilroy, run by California developer John S. Kilroy, went public last January and has been on an acquisition binge, purchasing office and industrial properties in Los Angeles, Orange and Ventura counties.