Irvine-based The Koll Company said it has made a sizeable profit off two recent industrial deals totaling $55 million.
The development and investment company took a break from its recent buying spree in the commercial sector to shed two industrial assets in Nevada and Arizona.
The Koll Co. bought the two properties in separate 2019 deals; the recent sale marks 92% premium in total over the $28.7 million it paid for the assets two years ago.
In the larger of the two deals, Koll sold the 175,000-square-foot AmPac Industrial Park in Henderson, Nev. for $42 million. That’s about twice what it paid for the seven-building property in 2019.
In the latter deal, Koll traded Broadway Industrial Park, a 58,000-square-foot property in Tempe, Az., for $13 million. It bought the property for $7.5 million.