One of the most spirited debates in commercial real estate relates to the housing choices of the millennial generation: will they generally remain in cities that cater to their lifestyle preferences as they hit their mid-30s, or will they settle down, raise children and move to the suburbs like their parents?
The delay of WeWork’s IPO has many questioning the flexible workspace business model, but in Downtown Chicago, providers keep expanding, and Industrious is just the latest firm to boost its presence. Company officials said Tuesday it will double its space in Accenture Tower, 500 West Madison St., from roughly 46K SF to more than 93K SF.
KBS is one of the largest owners of premier commercial real estate in the nation. Since inception, KBS-affiliated companies have completed transactional activity of approximately $40 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds.
The Seattle and Puget Sound office market is still evolving, but its future is murky. Tech job market growth continues to fuel demand for office space, particularly large, high-end blocks. But pressures like traffic gridlock, lack of affordable housing and the slow process from start to delivery weigh heavy on its long-term viability.
KBS has signed five new office leases totaling 56,520 square feet with global and regional tenants at Park Place Village, a 10-building, 484,002 square-foot Class A office and retail property in Leawood, KS, within the Kansas City metro area. Park Place Village is owned by KBS Real Estate Investment Trust III.
California-based development and investment firm KBS has completed the renovation of 1000 Continental, a 205,424-square-foot office building located in the northern Philadelphia suburb of King of Prussia.
California-based KBS has completed the renovation of Legacy Town Center, a three-building, 522,043-square-foot office complex in Plano. The property was developed in phases between 2001 and 2006 and offers amenities such as a fitness center, conference center, bike sharing program, car wash and a wellness room. KBS renovated the leasing office, conference center and locker rooms and added two new spec suites as part of the capital improvement program.
Now, more than ever, landlords are implementing new policies surrounding sustainability and equality to heighten tenant demand and improve property performance. As companies evolve to implement stronger environmental, social and governance (ESG) principles into everyday company functions, commercial real estate investment company KBS is also expanding into these areas.