Taking wing. (Real Estate).

The second tightest office space submarket in the county continues to attract Pacific Real Estate Group.

The Santa Barbara-based firm purchased the Wing Office Park and the Wing Business Park on Paramount Boulevard in Lakewood for $12.3 million. The combined properties, which include tenants such as the Federal Aviation Administration, Rolls-Royce North America and Federal Express, consist of two office buildings and one flex building and total 129,000 square feet.

The transaction marks Pacific Real Estate Group's second purchase of commercial space in the Long Beach Suburban Market in a little over a year, according to Cushman & Wakefield Inc.'s Robert Garey, who, with Robert Alperin and Kimball Wasick, represented both the buyer and the seller in the deal.

"You're at the mid point between LAX and John Wayne Airport," said Garey of the property's locale. "So you can service both markets very conveniently from the Long Beach Airport area."

As a result, the vacancy rate for Long Beach Suburban was 10.6 percent in the first quarter, according to Grubb & Ellis. Only Brentwood, at 10.5 percent, had a tighter office market.