KBS Strategic Opportunity REIT Signs Over 20,000 SF of Leases
Public, non-traded real estate investment trust (REIT) KBS Strategic Opportunity REIT announced today that it has signed three lease renewals plus one new lease at Iron Point Business Park, a Class A office park with 211,887 square feet located in Folsom, California.
The renewals total 11,732 square feet from tenants Coldwell Banker Residential, a real estate company, Peterson Brustad, an engineering consultant, and Stewart Title, a local title and escrow service company. The new tenant, First American Title, signed an 8,540 square-foot lease.
“We are pleased to keep a great roster of tenants at our Iron Point Business Park property and these four are excellent examples of the diversity and quality of our tenants,” commented Jeff Rader, senior vice president of KBS.
Rader added, “We’d like to extend a warm welcome to First American Title. We look forward to working with them.”
Iron Point Business Park consists of five separate office buildings built between 1991 and 2001. Two buildings are one-story, two are two-story, and the remaining is a three-story structure. The property offers tenants and guests 907 parking spaces and access to U.S. Highway 50.