New Lease Agreements Announced by Two Non-Traded REITs
Two non-traded REIT affiliates of KBS Realty Advisors recently announced the signing of new leases totaling over 28,000 square feet.
KBS REIT II leased 16,554 square feet of a 20-story Class A office building to a molecular simulation software developer, Schrödinger, Inc.
Located at 101 SW Main Street, named One Main Place, the building includes a newly designed fitness center and is situated in the center of Portland’s Central Business District.
“We are pleased to have Schrödinger as a tenant at our One Main Place property,” said KBS Senior Vice President Mark Brecheen. “Sitting on almost one acre, the building takes up an entire city block and offers our corporate tenants a professional and high-quality work environment.”
In addition, KBS REIT I also recently leased space at City Gate Plaza, a two building Class A complex in Sacramento, to consulting company, Delegata Corporation, a business, management and IT consulting company.
City Gate Plaza boasts the five-story 2450 Venture Oaks Way, a 101,303 square foot steel framed office building which features a flexible 20,000 square foot floor plate. Flexible floor plates provide options when accommodating tenants requesting larger or smaller spaces.
The second building is a single-story wood-framed recreation center comprised of 3,700 feet. Located at 2460 Venture Oaks Way, the property includes amenities such as a deli and fitness center.
“We’re pleased to welcome Delegata Corporation to City Gate Plaza,” said KBS Senior Vice President Brent Carroll. “The building boasts a functional design, is conveniently located in close proximity to the freeway allowing for easy access, and has a pleasant exterior with landscaped grounds including a beautiful outdoor water feature. We hope that these and many more of the buildings’ characteristics continue to attract similarly high-quality tenants.”