Koll Co. Lets Space to 35 Tenants in Irvine Commercial High-Rise

The Koll Co., which has been among the most successful developers in Orange County at filling the buildings it develops, said it has signed leases totaling $30 million with 35 tenants in its new 11-story building in Koll Center Irvine.

Most of the tenants have already moved into the $40-million, 234,500-square-foot building, which was completed early this year.

The tenants include a 200-seat steak house and two life insurance companies: Penn Insurance Co., which has leased the entire fifth floor to house its regional headquarters, and Transamerica Occidental Life Insurance Co., Koll’s joint-venture partner for the building.

Only two floors are still unleased, a Koll spokesman said. But the company is negotiating with one firm that is interested in leasing both stories, he added.

The high-rise is one of eight completed buildings in the 90-acre center near John Wayne Airport. Three other buildings, including an 11-story twin, are under construction. The company plans to have a total of 17 buildings in the 6-year-old complex by 1992, the spokesman said.

Most of the tenants have five-year leases and will be paying about $24 per square foot a year. Each floor of the building has about 21,000 square feet.