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Koll Co. Adds to Vegas Holdings

LAS VEGAS-In the midst of a $273-million portfolio buy with pension fund money, the Newport Beach, CA-based investor acquires its second Vegas property, a two-building industrial incubator.

By Brian K. Miller | Updated on August 06, 2006

(To read more on the industrial market, click here.)

LAS VEGAS-The Koll Co. of Newport Beach, CA, a new entrant to the Vegas market, has made its second investment here, acquiring East Sahara Commerce Center. The two-building, 72,548-sf industrial incubator property was built in 1991 and is currently 90% leased.

The 43-unit property was purchased from SVN Nobbs East Sahara LLC, a partnership controlled by SVN Equities of Irvine, CA. The sale price was $6.85 million, or $94.42 per sf rentable.

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