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Nov 07 2014

KBS Strategic Opportunity REIT Adds Three New Tenants to Texas Office Portfolio

KBS Strategic Opportunity REIT’s Richardson, Texas-based office portfolio has garnered three new leases. The non-traded REIT is leasing 11,000 square-feet of its office portfolio to OS33 Services Corporation, Cornerstone Staffing, and Car TV Media, Inc.

OS33 is a cloud computer solution that allows for integration of applications and data and will lease 2,773 square-feet. Cornerstone Staffing, which services the Dallas-Fort Worth metroplex will lease 2,512 square-feet. Infomercial production company, Car TV Media will occupy 6,220 square-feet of space.

Originally acquired in 2011 through a joint venture between KBS and JP-Richardson, LLC, for $44.5 million, the portfolio consists of five office buildings with a total of 728,857 square feet. The buildings sit on 43 acres of land and are close to the intersection of US-75 Central Expressway and President George Bush Turnpike. There is also easy access to DART rail stations for commuters.



“The property is located in a robust community that is the home of many of the country’s top companies across a variety of industries, and we are pleased to welcome this diverse group of tenants to Richardson Office Portfolio and hope to continue attracting similar companies,” commented KBS Senior Vice President, David Moore.

Sponsored by KBS Realty Advisors, KBS Strategic Opportunity REIT closed its initial public offering in November 2012 after raising $561.7 million.

Article by: Miriam Prendergast

Miriam Prendergast covers all topics in Direct Investments with a focus on Sponsors and Affiliate firms. If you have comments, ideas, or topic suggestions please email her at miriam@thediwire.com.

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