Spieker Paying $89.3 Million for 2 Office Towers in Orange
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Times Staff and Wire Services
ORANGE — Spieker Properties Inc. said it completed the purchase of two office towers in the city of Orange.
Spieker, which has become one of the county’s largest landlords, said it is paying $89.3 million for the buildings--21-story City Tower and the adjacent 19-story City Plaza.
The buildings’ longtime owner, Metropolitan Life Insurance Co., has been divesting properties in the area.
Menlo Park-based Spieker said it also purchased Skyport Plaza near the airport in San Jose. Overall, the company owns 37.4 million square feet of commercial space in California and the Pacific Northwest.
