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Irvine Co.'s Pacific Arts Plaza office building stands in Costa Mesa, California, U.S., on Monday, July 18, 2011. Irvine Co. said in December that it bought Pacific Arts Plaza in Costa Mesa, an 827,000-square-foot (77,000-square meter) property with four office buildings and four restaurants, for an undisclosed amount. Investors are bidding up prices for top-tier office buildings in Orange County, California, even as vacancies stand at almost 20 percent after the collapse of the subprime-mortgage industry that once made the region its home. Photographer: Jonathan Alcorn/Bloomberg via Getty Images

Irvine Co.'s Pacific Arts Plaza office building stands in Costa Mesa, California, U.S., on Monday, July 18, 2011. Irvine Co. said in December that it bought Pacific Arts Plaza in Costa Mesa, an 827,000-square-foot (77,000-square meter) property with four office buildings and four restaurants, for an undisclosed amount. Investors are bidding up prices for top-tier office buildings in Orange County, California, even as vacancies stand at almost 20 percent after the collapse of the subprime-mortgage industry that once made the region its home. Photographer: Jonathan Alcorn/Bloomberg via Getty Images