Koll: The Newport Beach real estate services...

Koll: The Newport Beach real estate services company has opened an office in Shanghai, China, and formed a joint venture with China Merchants Bank. Under the joint venture, Koll will manage a 785,000-square-foot office tower that serves as the bank’s headquarters. The 39-story office tower is under construction in the Pudong area of Shanghai and is expected to be completed later this year. The agreement marks Koll’s second major client in Shanghai. In July, Koll Asia Pacific Real Estate Services and Koll Asia Pacific Development Services said they would team up to manage a $350-million retail and entertainment project in Shanghai.