Donald Koll, one of the county’s most prominent commercial real estate developers, is recovering from a stroke.
Koll, 72, had a stroke late last month while working at Koll Co.’s Newport Beach headquarters, according to the company.
The longtime developer was taken to Hoag Memorial Hospital Presbyterian in Newport Beach where he is recuperating. He later is set to move to a rehabilitation facility, the company said last week.
Koll’s attitude is positive, according to Koll Co. managing principal Jerry Yahr. Koll is undergoing physical and speech therapy, he said.
Yahr said he believes Koll could come back to work one day. He said he meets with Koll daily to give him updates.
“He is very focused on his recovery,” Yahr said. “The business is a big part of who he is. He loves real estate. He loves working on real estate transactions. He’s definitely trying to get himself to the point where he will be back.”
Koll came down with a cold in late October, Yahr said. The two were talking at the office when Koll complained of an unusual headache, according to Yahr. After some discussion, Yahr said he drove Koll to Hoag, where doctors determined he suffered a stroke.
Many real estate executives have called or sent e-mails and letters, Yahr said. He declined to say who.
“I have been in contact with hundreds of friends, business associates and been overwhelmed by the outpouring of well wishes and thoughts and prayers from literally around the world,” Yahr said.
Koll “impacted a lot of people, and a lot of people are extending their thoughts and prayers. On behalf of Don, the family and the company, that’s very much appreciated,” he said.
Yahr and Koll Co.’s other managing principals,Bryan McGowan and Alan Airth,have assumed Koll’s responsibilities.
“We have all stepped in and picked up the things (Koll) was doing in terms of new development or existing development,” he said.
Yahr said he handles development and the operation of the company. McGowan acts as financial chief, working with investors and lenders. Airth heads acquisitions and marketing and leasing.
“Don has always been the leader, the visionary involved in envisioning projects, original concepts for development,” Yahr said.
In recent years, Koll has focused on development of small buildings in the Irvine Spectrum and elsewhere, as well as acquiring industrial properties.
He started with custom homes in the early 1960s, but soon switched to industrial parks. He developed many industrial and office parks around John Wayne Airport.
Commercial Innovator
Koll often was the first to try something new in commercial development, according to Robert Campbell, another veteran of commercial real estate here who heads Newport Beach’s CT Realty Corp.
While other developers here did low-rise buildings with parking lots, Koll started developing taller buildings with parking structures in the 1970s and early 1980s, Campbell said.
“Don Koll kind of epitomizes Orange County real estate,” he said.
Koll was one of the first developers of small buildings for sale with land leases in the 1970s, according to Campbell.
CT Realty bought a few of Koll’s older industrial developments, renovated them and sold them for a profit, Campbell said.
In 1972, Koll partnered with Tim Strader to develop the 100-acre Koll Center Newport at Jamboree Road and MacArthur Boulevard.
In all, Koll has developed more than 85 million square feet of office, industrial, retail and entertainment space. He also developed buildings in Los Angeles and San Diego, and was a leading resort developer in Los Cabos, Mexico.
In 1998, New York-based NorthStar Capital Investment Corp. financed the Koll-led buyout of Koll Development Co. But the two had differences and Koll stepped down as chief executive in 2001.
Koll is one of several key developers here who now are in their 70s and 80s. Others include Donald Bren, 73, of The Irvine Company; William Lyon, 82, of William Lyon Homes Inc.; and Henry Segerstrom, 82, of C.J. Segerstrom & Sons LLC.
