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Press Releases

KBS Acquires Main & Gervais in South Carolina

  • August 3, 2017
Press Releases

KBS Acquires Main & Gervais in South Carolina

  • August 3, 2017
COLUMBIA, SC (August 3, 2017) – KBS Realty Advisors of Newport Beach, California announced today the acquisition of Main & Gervais, a Class A office property located at 1221 Main Street in Columbia. The property features 18 stories, a seven-level parking deck and 186,605 rentable square feet.

Main & Gervais is conveniently located directly across from the South Carolina State House, with the surrounding area featuring an array of transportation options including three interstate freeways that converge in Columbia, passenger and freight rail service provided by CSX and Norfolk Southern, as well as passenger and air cargo facilities at Columbia Metropolitan Airport. The property is also just a half-mile walk to the University of South Carolina, the largest university in the state.

In addition to the rich location and unparalleled finish of the building, tenants benefit from a wealth of amenities, including an on-site restaurant, banking and fitness center. Located just two blocks from the Main & Gervais office building is The Congaree Vista, commonly referred to as “the Vista”. This burgeoning dining, entertainment and shopping district comprises multiple city blocks centered upon Gervais Street. The walkable area is home to many of the city’s preeminent restaurants, hotels and civic destinations. With over 45 restaurants and bars, 60 specialty shops and galleries and a diverse mix of businesses and services including the Colonial Life Arena and the Columbia Metropolitan Convention Center, “the Vista” helps to provide tenants with a strong work life balance.

“Main & Gervais is the best in class office building in Columbia and we know it will be a strong addition to the KBS’ portfolio,” KBS Senior Vice President and Asset Manager, Allen Aldridge. “Columbia has been named one of the fastest growing cities in the U.S. and offers strong population growth and a skilled, educated labor force, creating an ideal business location and quality of life for residents and employees.”

“We are excited to gain a footprint in Columbia by acquiring what is considered to be the premier office building in the heart of an amenity-rich market,” commented KBS Eastern Regional President, Marc DeLuca. “The property features an irreplaceable location with an impressive rent roll. The property is also a short walk from the University of South Carolina which has consistently ranked among the top schools in the country for International Business Studies.”

The property is currently 98 percent leased, and anchored by Edens, McNair Law Firm and NCBC. Other tenants include the regional law firms of Parker Poe, Rogers Townsend & Thomas, and Womble Carlyle, along with The Oak Table restaurant.

Main & Gervais is the sister building to Bank of America Tower in Raleigh, NC, an office property developed by KBS in 2016. Both buildings were designed by the renowned architectural firm of Duda Paine.

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS’s ability to invest in and manage a diverse portfolio, and the performance of Main & Gervais and of the Columbia real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS’s and/or Main & Gervais’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Media Contact

Ginny Walker

KBS PR Manager
949-417-6535
gwalker

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Industry Trends

Underwriting the Perceived Instability of Short-Term Office Leases

  • February 16, 2021
The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
Industry Trends Insights

Envisioning the Future of the Built Environment

  • January 29, 2021
Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
Industry Trends

Why Texas is becoming a commercial real estate powerhouse

  • January 21, 2021
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
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