Non-Traded REIT Signs Over 38,000 SF in Lease Agreements
Non-traded REIT, KBS Strategic Opportunity REIT, recently signed new leases with several major tenants in both a west coast and east coast property.
In the state of Washington, the REIT signed 13,656 square feet in new leases at The Plaza Buildings.
The transaction consisted of four signings and was handled by CBRE Brokerage Services.
New leases were signed with Insight Global and Basho Technologies. Analytic consulting company, Pointmarc Consulting, LLC, also signed a 4,184 square feet expansion and a growing law firm expanded its 2,276 square foot lease.
The Plaza Buildings, located in Bellevue, contain 490,994 square feet of rentable office space and consist of two Class A office buildings, Plaza Center and U.S. Bank Plaza. The 16 and 10 story buildings are conveniently located in the central business area of Bellevue with surrounding luxury shopping, dining, and entertainment options within the area.
“The Plaza Buildings are in a great location for firms like these that are working closely with a local, professional clientele,” said KBS Senior V.P. Jeff Rader.
In addition to the recent signings in Bellevue, KBS also completed 25,024 square feet in new and renewal lease signings at 50 Congress Street in Boston, MA.
The new agreements consist of five large signings including the leasing of 2,513 square feet to LOG-E Risk Advisors and 6,129 square feet to High Start Group, an innovation consulting firm.
Roach, loannidis & Megaloudis, LLC, a law firm, renewed its 2,493 square feet lease and Scivantage, a financial tech firm, and Jeruchim & Davenport, a general practice law firm, signed a new 4,969 square foot lease and a 997 square foot lease respectively. Aside from the mentioned signings, five smaller agreements were made as well.
Situated in the heart of Boston’s financial district, the 10-story office building is 179,872 square feet and offers plenty of natural sunlight through three side views of the property.
“This building was constructed in phases between 1910 and 1915 and maintains its original exterior. The building’s infrastructure is modernized and structurally retrofitted with updated amenities. We continue to modernize and structurally retrofit the building with updated features,” said KBS Senior VP, Shep Wainwright.