The Koll Co. Buys 65 KSF CA Office Asset

Commercial Property Executive | July 30, 2018

The Koll Co. has acquired a 65,000-square-foot office building in Corona, Calif. UBS Realty Investors traded the property after owning it for more than a decade, according to Yardi Matrix data. CBRE worked on behalf of the seller and the buyer was self-represented. California Bank & Trust provided the loan for the transaction. The office is 96 percent occupied.

Located at 2280 Wardlow Circle, the building is alongside Freeway 91, between Orange and Riverside counties, roughly 3 miles from downtown Corona and 22 miles from downtown Irvine.

“The building’s location at the junction of two of California’s largest counties makes it extremely attractive to dynamic, growing companies, and is a big factor in its strong occupancy level,” said Scott Lanni, principal at The Koll Co., in prepared remarks.

Constructed in 1989, the property underwent renovation in 2009 and occupies nearly 4 acres, Yardi Matrix shows. Characteristics of the building include controlled access and a two-level parking option with an ample parking ratio of 4.5 spaces per every 1,000 feet of office space. Tenants of the building include D.R. Horton and Penske Logistics.

Earlier this month, The Koll Co. purchased a 77,000-square-foot flex building in Tustin, Calif.