Small Spaces Score Big for Koll Co.

John McCloud is editor of Industry Property Journal, from which this article is excerpted.

Newport Beach, CA—The Koll Co. is increasing its portfolio by more than 50%, moving into three new markets and considering expansion into several more, a company executive says. The firm is adding about 1.7 million sf to the 3.2 million sf it already owns in Southern California, Arizona and Nevada. The properties include two light industrial parks in Utah–the 119,592-sf Broadbent Business Park in Salt Lake City and the 78,400-sf Redwood Business Park in West Valley–and similar complexes in Colorado and Texas.

Koll managing partner Alan Airth says the company is considering potential acquisitions in the San Francisco Bay Area and the Pacific Northwest. The company is looking exclusively at multi-tenant industrial business parks that feature 1,000-sf to 3,000-sf units with small amounts of office space in the front and warehouse space in the rear. Typical tenants are young companies making their first moves out of their owner’s basement or garage, he adds.