REAL ESTATE

Investment Building Group in Los Angeles and New England Mutual Life Insurance Co. in Boston bought 11 acres and the Ultra Limousine Co. factory at Palm and Moon streets in Brea from La Palma’s Bonita Properties for $4.7 million, with plans to build a six-building, $9-million business park beginning in July . . . Delaney’s Inc., operators of the seafood restaurant chain, moved its headquarters from Newport Beach to 1301 S. Sunkist St. in Anaheim, signing a 10-year, $1.2-million lease for 17,000 square feet . . . Cayman Development Co., an Irvine home builder, said it had a record 1987 with $58 million in sales and 138 residential units sold.