Koll Co. Buys Business Center in Santa Ana
The Koll Co., a large Newport Beach developer, said Monday that it has bought the 10-building Orangewood Business Center in Santa Ana from Woodview Properties Ltd. for $13 million.
Koll’s partner in buying the 11-acre business center is USF&G; Realty of Baltimore.
The single-story buildings, erected 9 years ago, contain offices, warehouses and light industry. There is 185,000 square feet of space, of which 90% is leased to 40 tenants. The center is on Edinger Avenue in southeast Santa Ana near the intersection of the Santa Ana and Costa Mesa freeways.
Koll said it bought the property because the southeast section of Santa Ana is among the city’s fastest-growing areas. Nearby are Santa Fe Pacific Realty’s McFadden Centre and Pacific Center, and the new corporate headquarters of McDonnell Douglas Information Systems Co.
The complex is now called Koll Edinger Business Center, and Koll will manage it. The company’s Newport Beach division now owns and manages nearly 7 million square feet of office, research and development, and industrial buildings in Orange, San Bernardino and Riverside counties. The entire company now controls 28 million square feet of space on the West Coast.
Investor Developer Properties in Newport Beach represented Koll in the purchase.
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