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Press Releases

KBS and Kane Realty Sell Midtown Plaza in Raleigh’s Thriving North Hills

  • February 26, 2018
Press Releases

KBS and Kane Realty Sell Midtown Plaza in Raleigh’s Thriving North Hills

  • February 26, 2018
RALEIGH, NC. (Feb. 26, 2018) – KBS Realty Advisors, of Newport Beach, California, and Kane Realty Corp of Raleigh, NC announced today the sale of Midtown Plaza, a LEED Silver 329,613-square-foot, Class A office development located in Raleigh, NC. The property was sold at $127 million, exceeding the company’s expectations.

“KBS has always viewed the Raleigh market favorably given its dynamic live-work-play environment,” said KBS Regional President, Marc DeLuca. “It is exciting to see continued economic growth and interest from people and companies who consider making the city their home, and to witness how our projects have made this market a better place to live, work and play. Midtown Plaza, which is in the heart of the North Hills area, continues to see high client retention, which can be attributed to the quality and location of the property, and speaks to the strength of the investment for its new owners.”

Midtown Plaza features 12 levels of office space with a café on the first floor, a contemporary lobby, high visibility from the I-440 Beltline, and adjacent structured parking incorporating public art and an outdoor fitness area. North Hills is a flourishing, mixed-use development providing luxury hotels and apartments as well as a multitude of well-known retail and restaurant options.

“We are especially proud of the impact that this project has had on North Hills. We delivered a sustainable, class A development to the market, that further contributed to the making of North Hills,” said John Kane, CEO of Kane Realty. “Our relationship with KBS and collective commitment to the project was instrumental in our ability to swiftly execute on this development property and its success.”

James Cassidy and Jud Ryan of Newmark Knight Frank represented KBS in the transaction.

Media Contact

Ginny Walker

KBS PR Manager
949-417-6535
gwalker@kbs.com

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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

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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.
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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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