(EDITOR’S NOTE: According to a source familiar with the transaction, 19955 SW Millikan Way in Beaverton, Oreg., traded for $24 million.)
Company Expands its Market Presence with Acquisitions in Salt Lake City and Portland/Beaverton Region; Nike is Among the Properties’ Many Notable Tenants
IRVINE, CALIF. – In a significant expansion of its portfolio of world-class business properties, The Koll Company today announced the completion of more than $110 million in real estate investments and industrial growth throughout the western United States.
“Our company’s forward-looking acquisitions and market expansions signal our strong optimism and confidence in America’s continued economic rebound. We’re honored to assume ownership of these properties and provide outstanding service to their tenants,” said Gerald Yahr, Managing Principal, The Koll Company.
The portfolio’s impressive growth spurt reflects activity over just the past nine months – a period when the global economy was grappling with severe economic challenges posed by the coronavirus pandemic.
The acquisitions and expansion added more than 700,000 square feet to The Koll Company’s multistate portfolio, which totals more than 4.5 million square feet. More than 3 million square feet of that total has been acquired over the last seven years alone.
In addition to the portfolio growth, the company’s recent activities expanded its market presence to two major markets, Salt Lake City in Utah and Oregon’s Portland/Beaverton region.
“We’re excited to have the opportunity to add more strategic investment properties to our portfolio, and to introduce our company’s unique service-oriented culture to Salt Lake City and the Portland-Beaverton markets,” said Scott Lanni, Principal, The Koll Company.
Lanni noted that Nike, which is located at one of the Beaverton properties, is among the many notable tenants located at the properties Koll has acquired over the past nine months.
The recent activity includes a joint venture between Koll and investment manager PCCP. The joint venture purchased a fully leased industrial portfolio comprising three buildings in West Sacramento and five buildings in Salt Lake City.
About The Koll Company: The Koll Company is a well-capitalized fully integrated real estate operating company headquartered in Irvine, California and led by Gerald Yahr, Scott Lanni and Scott Meserve. With more than 50 years in the real estate industry, Koll was originally established as a general construction firm and rapidly grew into a leading real estate services company. Koll’s track record includes the development and acquisition of over 150 million square feet of office, industrial, retail, resort, and golf properties. Koll acquires, develops, and manages investments while serving institutional investors and high net worth individuals. The firm’s investment strategies are implemented by a disciplined and dedicated team of professionals with a long history of integrating fundamental real estate knowledge, capital markets experience, and local and economic research. Koll currently owns and operates a portfolio totaling over 4.5 million square feet, 3.1 million square feet of which has been acquired since 2014.