The Koll Company Acquires 121,143 Sq. Ft. Saturn Business Park In Brea

Online, July 31, 2012 (Newswire.com) - The Koll Company announced today that they led a partnership in purchasing Saturn Business Park in Brea for $10.8 million, or $89 per square foot.

Located at 2929 East Imperial Highway, near the Orange (57) and Riverside (91) freeways, the park is anchored by Underwriters Laboratories and The IMS Company, a software and systems developer in the airline and defense industry. During escrow, the Koll partnership leased approximately 10 percent of the 121,143 sq. ft. park to Endress+Hauser, a supplier of industrial measurement and automation equipment. The park is now 60 percent occupied.

"This acquisition represents an attractive opportunity to reposition and upgrade a well located office complex," said Gerald Yahr, Managing Principal for The Koll Company. "We were attracted to the strong market fundamentals associated with Brea and Saturn Business Park. We are already working on proposals for the balance of the building and expect to have the property repositioned and fully occupied in the near future."

City of Industry-based EverTrust Bank provided a $9.4 million bridge loan for the acquisition and repositioning, which will include lobby, landscaping and building upgrades. The Koll Company will provide property management services.

Jones Lang LaSalle (JLL) brokers Bob Prendergast and Baker Morphy handled the sale.

The Koll Company acquires, develops and manages commercial real estate. Acting as a principal for each investment, the company focuses on the acquisition of office properties, multi-tenant light industrial business parks, improving and repositioning underutilized properties, providing ground-up development services and using its operational expertise and vision to maximize returns from performing assets. Since its founding in 1962, The Koll Company has developed more than 90 million square feet of office, industrial and retail space. Further information on the company is available at www.koll.com