Koll buys SoCal industrial complex

Picks up 154,917 square feet in San Diego County

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The Koll Co., a Newport Beach, Calif.-based real estate organization, purchased La Costa Meadows Industrial Center, a 154,917-square-foot multitenant property in San Marcos, Calif. The value of the transaction was $12 million. Originally built in two phases completed in 1978 and 1991, La Costa Meadows Industrial Center is situated on a 10.4-acre site at 1611-1665 S. Rancho Santa Fe Road at the intersection of Melrose Drive, approximately six miles east of Interstate 5. San Diego-based La Costa Meadows Industrial Center Ltd. was the seller. The property, which is more than 99 percent occupied, consists of eight one- and two-story buildings, with 56 office and industrial units ranging in size from 740 to 11,523 square feet. The buildings feature painted pre-cast concrete tilt-up panels. Both The Koll Co. and the seller were represented in the transaction by Louay Alsadek and Mark Emerick of Grubb & Ellis/BRE Commercial. The Koll Co., which will manage the center itself, will make i...