NEWPORT BEACH, CA-The Koll Co. is expanding its market focus to Northern California and the Pacific Northwest as it plans to acquire $500 million in assets over the next two years through its Koll/PER LLC, an affiliate that is a partnership between the Newport Beach-based company and the Public Employee Retirement System of Idaho. According to Koll senior vice president John Woo, who directs acquisition activities for the company, Koll is aggressively pursuing acquisitions despite the slowdown in the real estate market.

Besides increasing its acquisition staff, Woo says, the company has stepped up its efforts to acquire multi-tenant industrial and office properties in its existing markets in California, Arizona, Nevada, Texas, Colorado and Utah as well as its expansion into the Northern California and the Pacific Northwest. Koll/PER LLC already owns approximately 5.9 million sf of multi-tenant space, mostly light industrial business parks and suburban/garden-style office buildings.

“While some commercial real estate investors are choosing to sit on the sidelines waiting for the bottom of the market, the Koll Co. is actively looking for deals,” Woo says. Woo says that Koll is looking for well-located, small-tenant incubator properties in the price range of $10 million and up. He notes that these types of value-added and core-plus properties have been a staple of the Koll Co. since it was founded in 1962 by Donald M. Koll, one of the firm’s three managing principals.

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