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ORANGE COUNTY BRIEFLY

Koll Acquires North Carolina Property Managing Firm

May 13, 1997|Melinda Fulmer

NEWPORT BEACH — Property manager Koll expanded its operations into the mid-Atlantic states by acquiring Raleigh, N.C.-based Property Resources, a commercial real estate firm that manages 5 million square feet of property.

The 65-employee company, which also has offices in Greensboro, N.C., and Richmond, Va., handles property management, leasing and disposition for corporate clients such as Equitable Real Estate Management and Nationwide Life Insurance. The company's principals, Mark Andrews and Mark P. Schweibinz, have joined Koll as senior vice president and vice president respectively.

Koll, which manages more than 184 million square feet in more than 900 cities worldwide, has agreed to be acquired by CB Commercial Real Estate Services Group for stock worth about $145 million.

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