Escrows are scheduled to close this month on the 20 units thathave been sold. The units at the project are of one and two storiesand range from 1,100 sf to 6,951 sf. They are grouped in 11buildings and include a standard mix of 50% improved office and 50%warehouse space that in many cases can be fully improved.

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Scott Meserve, development manager for the Koll Co., says thatthe sales demonstrate the demand for smaller for-saleoffice/R&D product in the Irvine Spectrum. "Many buyers aresmaller businesses that were attracted to the advantages of owningtheir own building in one of the most convenient and high-profilebusiness environments in Southern California," he says.

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The Koll project was designed by LPA Inc. of Irvine to feature acampus-like environment with high-end landscaping and outdoorseating areas. Koll's marketing team for the project includes MikeHartel, Kevin Turner, Joe Winkelmann and Travis Haining of VoitCommercial Brokerage.

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When Koll unveiled plans for its Koll Center Irvine III, itdescribed the 188,000-sf project as a $57-million development. Itdeveloped the new project on land that it bought from the IrvineCo.

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Koll has recently developed in the same area of Irvine Spectrum,the huge master-planned business park of the Irvine Co. The twoother nearby business parks, called Koll Center Irvine I and II,totaled 76 units and 324,000 sf. They were completed in 2006 and2007 respectively and are located across the street from each otherat the northeast and southeast corners of Irvine Center Drive andScientific Way.

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