IRVINE, CA-The Koll Co. has unveiled plans for its Koll Center Irvine III, a 188,000-sf, $57-million R&D development by the Newport Beach-based company that will feature 56 for-sale units ranging from 1,100 sf to 6,951 sf. Koll will develop the project adjacent to the I-5 Freeway on a 12-acre site at Bake Parkway and Research Drive that the company bought last year from the Irvine Co.

Koll is developing this latest project after two similar previous projects nearby showed "a strong demand for this type of high-quality, smaller office/R&D product in Irvine Spectrum," notes Alan Airth, a managing principal for the Koll Co. Airth, who has been responsible for the development of all three centers, says that the 11 buildings in this latest project will be of one and two stories, with a standard mix of 50% improved office space and 50% warehouse space that in many cases can be fully improved.

The first two projects were the company's 27-unit Koll Center Irvine I and its 49-unit Koll Center Irvine II in the Irvine Spectrum. The first two developments total 324,000 sf and are located across the street from each other at the northeast and southeast corners of Irvine Center Drive and Scientific Way.

Designed by LPA Inc. of Irvine, Koll Center Irvine III is planned for completion in the fourth quarter of the year. The listing agents for the project are Mike Hartel, Kevin Turner, Joe Winkelmann and Travis Haining of Colliers Seeley International.