KBS Realty Advisors Acquires in Washington
KBS Realty Advisors, an affiliate to KBS Capital Advisors whom advises affiliated public, non-traded REITs, recently acquired The Park at Woodinville on behalf of a sovereign wealth fund client.
The Class-A warehouse and light-manufacturing infill project is 239,607 square feet with over 90 percent of available spaced leased.
“We believe our investment in The Park will help to continue its successful track record of leasing,” said KBS senior vice president, Mark Brecheen. He added, “We plan to differentiate the property with aesthetic improvements that will further enhance the experience for new and existing tenants.”
Located only a short distance from downtown Woodinville, KBS Realty Advisors acquired the five building property from Colony Realty Partners.
“The Park at Woodinville is very well located to take advantage of the strong industrial market throughout the Puget Sound area, and as one of the largest industrial parks in Woodinville, The Park can accommodate a diverse array of tenants with varying size requirements,” stated KBS Western regional president, Rodney Richerson.
Founded in 1992, KBS Realty Advisors is a SEC-registered investment advisor that focuses on acquiring commercial real estate investments. Through its affiliates, the company has completed $30 billion in transactions.