Briefly in business

Newport Beach-based Newport Federal has purchased the

32,473-square-foot AT&T; building at 4667 MacArthur Blvd. for about $6

million.

The deal, which closed escrow in three days, is a good investment for

the company because of “the attractive capitalization rate and the

additional cash flow that will be generated in the near future when the

4,000 square feet of vacant space on third floor is leased,” said Rob

Mitchell, who negotiated the deal for Voit Commercial Brokerage.

Voit represented both Newport Federal and Makar Properties LLC, the

real estate developer and buyer that owned the building.

The building, constructed in 1975, is a three-story office building

near John Wayne Airport.