Capital Pacific Buys Bradley Office Plaza

Capital Pacific Holdings Inc., making its first foray into the office market in central Orange County, said Wednesday it has acquired Bradley Office Plaza, a two-story, twin office building complex in Orange. The price was not disclosed.

The Newport Beach developer said its move was prompted by the increasingly tight market for office space. Office vacancy rates in the central area are poised to fall below 10% for the first time since 1985, the company said.