KBS Strategic Opportunity REIT Signs 11,000 SF in Leases at WA Tech Center

KBS Strategic Opportunity REIT, a publicly registered, non-traded real estate investment trust based in Newport Beach, California, signed new leases with Inspur USA for 4,418 square-feet and MOD Pizza for 6,823 square-feet at Bellevue Technology Center.

Inspur USA, an information technology outsourcing services provider, is a new tenant at the property, while MOD Pizza is an existing tenant that expanded its lease to occupy a total of 22,595 square feet.

Bellevue Technology Center is a nine-building, class A/B office campus totaling 330,508 square feet in Bellevue, Washington. The property sits on 46 acres of land, includes a 576 unit underground parking garage, and is located half a mile south of Microsoft’s headquarters.

Jeff Rader, senior vice president for KBS Capital Advisors, said, “Bellevue Technology Center is an attractive property with great amenities, and we believe that the Puget Sound region is one of the most dynamic office real estate markets in the country right now, benefiting from strong employment growth in the high-tech sector.”

Bellevue Technology Center’s amenities include a fitness facility with locker rooms, a full-service café, an expansive common area, a conference area, a collaborative area with flat screens and Wi-Fi. Additional amenities include secured onsite bike storage, a sports court and a beach volleyball court, and landscaped walking/jogging trails. The property is also surrounded by six Metro transit stops, including a “Rapid Ride” stop.

Mark Flippo, JJ Shephard and Charlie Malley of Jones Lang LaSalle represented KBS Strategic Opportunity REIT in the transaction. Glenn Combs of Flinn Ferguson represented MOD Pizza, and Bill Cooper and Taylor Olson of Colliers represented Inspur USA.

KBS Capital Advisors is KBS Strategic Opportunity REIT’s external advisor and is an affiliate of KBS Realty Advisors, a private equity real estate company and registered investment advisor. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $30.5 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs.

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