"This is more back office," he said about the extra space. "It's for call centers, mortgage companies and guys that just need additional office space but whose manufacturing or distribution is working fine." Jim Oliver, a principal of Lee & Associates Commercial Real Estate Services Inc., represented seller Safstrom Family Trust. Some Wall Street analysts and investors are losing faith in Orange County's publicly traded homebuilders and mortgage lenders. The problem: exposure to over-heated California. There are other issues. J.P. Morgan & Chase Co. last month downgraded shares of Irvine-based Standard Pacific Corp. That followed three separate analysts downgrading Irvine-based subprime lender New Century Financial Corp. in September and August. Also in August, JMP Securities downgraded Newport Beach's Impac Mortgage Holdings Inc. for the second time this year.