Koll Co. to Build $40-Million, Mixed-Use Project on 33 Acres

The Koll Co. of Newport Beach announced plans Monday for a $40-million, 33-acre, mixed-use development project in this booming Riverside County bedroom community, with the Keith Cos. of Costa Mesa signed on as the first major tenant.

Dubbed the Koll Corporate Center, the project will provide space for office, industrial and retail businesses, and is scheduled for ground breaking in September. The city, eager to provide more local employment opportunities for its rapidly growing population, will contribute $2 million to $3 million in infrastructure improvements around the site.

The Keith Cos., a land planning and engineering firm, has agreed to a $5-million lease for 50,000 square feet of space in the project’s 63,000-square-foot office building, and will relocate its 100-employee Inland Empire division to the site.

Debi Hausdorfer, a Keith Cos. spokeswoman, said the firm also has an equity interest in the project, but she declined to provide details. An investment partnership called Oak Springs Inc. also has a stake in the venture, and the Industrial Bank of Japan will be the construction lender.

The design of the project will follow previous Koll Co. mixed-use developments, with a unified architectural and landscape theme aimed at creating a “city-within-a-city” atmosphere.

In addition to the office building, the development will include a 135,000-square-foot, multitenant industrial building, a 26,000-square-foot retail building and a 100-room hotel. Twelve acres of undeveloped property will be offered for build-to-suit or sale to either office or industrial tenants, and the entire project is slated for completion by 1994.