KBS Strategic Opportunity REIT Signs 34,500 SF in Leases at Austin Office Building
KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, California, signed 34,506 square feet in leases at Great Hills Plaza in Austin. Guaranty Insurance Services, signed a new 8,140-square-foot lease and One Affiniti LLC, a digital marking firm, signed a new 3,729 square-foot-lease. E2open, LLC, a supply chain operating network, renewed and expanded its lease totaling 22,637 square feet.
Great Hills Plaza is a three-story, Class A office building. The REIT originally purchased the property in 2013 as part of a $76 million portfolio comprised of three Austin office buildings. Renovated in 2014, Great Hills Plaza offers a three-story atrium with floor-to-ceiling glass, an on-site car wash and reserved parking.
“Great Hills Plaza’s prime location offers tenants a modern corporate setting with a tranquil park-like atmosphere,” said David Moore, senior vice president at KBS and asset manager for the property. “We believe the walkable location and amenities at the Arboretum continue to attract and retain great tenants like Guaranty Insurance Services, One Affiniti LLC and E2open, LLC.”
KBS Strategic Opportunity REIT, which went effective in November 2009 and closed in November 2012, raised $561.7 million in its primary offering and has sold $59.1 million in DRIP shares.
