Koll Doubles its Investment in Two Years
connect phoenix & southwest | September 27 2021
The Koll Company sold two industrial parks for nearly twice what the company and its investment partners paid for the properties just two years ago. Immediately after acquiring the properties, AmPac Industrial Park in Henderson, NV and Broadway Industrial Park in Tempe, AZ, Koll undertook major reinvestments and implemented new management and leasing at both locations.
Koll and its investment partners purchased the 175,818-square-foot Henderson property in 2019 for $21.2 million and sold it for more than $42 million. Acquired in 2019 for $7.47 million, the Tempe property was sold for more than $13 million.
“We’re grateful that we were able to create exceptional value for our investment partners through the strategic purchase, hands-on management, reinvestment and sale of these properties,” said Scott Meserve, principal, The Koll Company. “Suffice to say, our partners are extremely pleased with our performance and successful execution of the business plan for these two industrial parks.”
Jennifer Levine and Elizabeth Moore of RealComm Advisors represented Koll at AmPac and Phil Haenel of Cushman & Wakefield represented Koll at Broadway. CBRE’s Darla Longo and Rebecca Perlmutter partnered with Koll to sell AmPac. For the sale of Broadway Industrial Park, Koll partnered with Cushman & Wakefield’s Will Strong and Phil Haenel.