53.2 F
Laguna Hills
Thursday, Mar 28, 2024
-Advertisement-

Colliers Seeley is looking to hire, in the Real Estate column



Koll Building Denver Retail Center; Irvine Co. Unveils Northpark Square


COMMERCIAL

If the economy is in a downturn, somebody forgot to tell Robert Cody Plott.

“We’re bucking the trend of all the cuts going on in the industry,” said Plott, chief executive of Colliers Seeley International Inc.

Recently the Los Angeles-based real estate company announced a five-point, $1.5 million capital reinvestment plan, positioning the firm to fund acquisitions and make new hires, according to Plott.

Initial plans have the firm opening a new office and adding 20 brokers by the end of 2001.

“We have already acquired over 30 brokers over the last 18 months,” said Plott. “By the end of the year, we expect to increase our professional ranks by 30% since 1999, to a total of 150 brokers.”

Colliers Seeley raised the money to make the changes from its 28 owner-partners.

“This long-range vision cuts against a trend toward downsizing and slow growth,” Plott said.

One aspect of the plan is expanding the company’s market reach. The firm, which has 13 regional offices now, has identified Riverside, Corona and Temecula as possible locations for expansion, according to Plott.

Colliers Seeley also added a structured finance group in January. The employees in that group come from a banking background, according to Plott and work as consultants with the firm’s brokers.

“They target the large corporate customers and help them create and put their money to work,” Plott said.

In a final strategic move, Colliers Seeley is investing in technology, as the firm’s annual technology budget will increase 140% from the previous year.

“Clearly, technology is a part of our business and we want to utilize the technology,” Plott said.

Some initial plans include “Colliers Television” and an increased emphasis on making listings available via the Internet.

“We’re not saying technology will replace our business, but that it will advance it,” Plott said. “Technology gives us the tools to do things more efficiently, faster,close deals quicker.”

Plott also commented on the current marketplace.

“A lot of the economic troubles we’re going through is overplayed by people who sensationalize any bad news,” he said. “We don’t want to predispose ourselves to an economic downturn. We keep hearing ‘the sky is falling,’ but we’ve found it quite the contrary; we still have a lot of gas left in the tank.”


Koll Building for Denver Shoppers

Newport Beach-based Koll Development Co. continues building its properties outside of Southern California. Koll is developing Flatiron Marketplace in the Denver metro area. The $110 million mixed-use complex will encompass nearly 1 million square feet upon completion.

“We are very enthusiastic about our position as the gateway to this booming new regional shopping district,” said Greg Mickelson, Koll partner and vice president in charge of the company’s retail development activities.

Nordstrom Rack, Best Buy, Linens ‘N Things, Bahama Breeze, Mimi’s Caf & #233; and Buca di Beppo are among the retail stores and restaurants open or in development at Flatiron.

CB Richard Ellis in Denver is handling the marketing, leasing and management of Flatiron Marketplace. Koll’s partner on the project is Prudential Real Estate Investors of Parsippany, N.J.


Bits and Pieces:

Ah-nuld out; steak dinners in. Arnold Schwarzenegger’s “Terminator” costume is gone with the demolition of the Planet Hollywood at 1641 Sunflower in the South Coast Plaza Village. In its place will be Morton’s of Chicago. The Irvine-based R.D. Olson Construction company is handling pre-construction and general contracting for the 12,000-square-foot steakhouse. Olson Construction is familiar with Morton’s, having built several of the steakhouses, according to Dennis Reyling, president, R.D. Olson Construction. Construction began last month and has a completion date of early November Newport Beach-based Hager Pacific Properties has purchased a 350,000-square-foot warehouse and office park in Commerce, according to Robert Neal, executive vice president of Hager. The office park is the corporate headquarters of File Keepers Inc. Other tenants include Exel Logistics and DPSI. Chuck Littell of Colliers Seeley represented Hager, and Sid Renfro of Interamerican Realty represented seller Daetwyler Enterprises Corp. in the $13 million deal.


RESIDENTIAL

The Irvine Company has announced the development of Northpark Square, its latest Irvine Ranch Village. The 890 homes planned for the community will be bounded by Irvine Boulevard, Bryan Avenue, Culver Drive and the Eastern (261) Toll Road in Irvine. Prices will range from the mid-$200,000s to more than $600,000.

Northpark Square will reflect the design of Northpark, according to Rob Elliott, group senior vice president, urban planning and development, for Irvine Community Development Co., the community development subsidiary of the Irvine Co. Amenities to the village include three community parks for residents and guests and one private park.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-