Koll Real Estate to Manage Building Projects for Del Monte Foods
NEWPORT BEACH — Developer Koll Real Estate Group Inc. said that it has agreed to manage $22 million in new building projects for Del Monte Foods Co., the San Francisco-based canning company.
Koll will handle development and construction of distribution and ripening plants that Del Monte is planning in Mendota, Ill., Plover, Wis., and Toppenish and Yakima, Wash. Officials would not disclose how much Koll will be paid.
For the record:
12:00 a.m. Nov. 22, 1995 For the Record
Los Angeles Times Wednesday November 22, 1995 Orange County Edition Business Part D Page 2 Financial Desk 1 inches; 32 words Type of Material: Correction
Management contracts--Koll Real Estate Group Inc. of Newport Beach expects to manage real estate development projects worth $100 million next year. Koll’s revenue from managing these projects was misstated in a Nov. 17 article.
The Del Monte project is part of a long-term plan to expand Koll’s corporate development services, according to Keith Ross, Koll’s vice president of marketing. He added that the Newport Beach company has similar deals lined up with Frito-Lay Inc. and Haggar Apparel Co.
Koll expects to generate more than $100 million in annual revenue next year from real estate management services, executives said.
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