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Press Releases

KBS Closes Final Sale at Corporate Technology Centre and Rebrands Remaining Buildings to District | 237

  • June 25, 2018
Press Releases

KBS Closes Final Sale at Corporate Technology Centre and Rebrands Remaining Buildings to District | 237

  • June 25, 2018
SAN JOSE, Calif. (June 25, 2018) KBS Real Estate Investment Trust II (“KBS REIT II”), a nontraded real estate investment trust based in Newport Beach, California, announced today the third sale at Corporate Technology Centre, an eight building office park. Three properties – the AT&T building at 400 Holger, 450 Holger and 475 Holger – have been sold. KBS is focused on renovating the remaining five buildings, which KBS intends to rebrand as District | 237.

The five Class A buildings, which will soon be vacant, have over 400,000 square feet of rentable space. District | 237 presents an opportunity to create a campus environment for one large tenant with 416,000 square feet, or multiple tenants with their own individual building, ranging in size from 46,700 square feet to 100,000 square feet. Planned renovations for District | 237 include a 60-foot-high monument sign, allowing for tenants to have prominent signage facing the highway, completely updated landscaping and modified exteriors. Currently 350 Holger Way is undergoing a complete interior renovation that will include, a new lobby, a private tenant lounge, an outdoor amenity area and gym. The office component of the building has been opened up to create large open work spaces, collaboration areas and an executive conference center.

“The dynamic Silicon Valley market is a draw for many employers due to its appeal to a young talent pool,” said Brent Carroll, SVP, Acquisitions/Co-Director, Asset Management. “We believe the planned renovations of the property puts KBS at the center of an ever-growing market with the potential to add great value to the well-located property.”

District | 237 is within 10 minutes of San Jose’s Minetta International Airport and 15 minutes of the San Jose CBD. The property and its location are attractive to a wide range of technologybased users. Further, its exceptional frontage on Highway 237 and its close proximity to retail and lodging amenities, such as Courtyard by Marriott San Jose and Hyatt House San Jose/Silicon Valley, make the property easily accessible.

“We believe San Jose remains a popular place for growing technology businesses, and tenants will benefit by the identity the freeway frontage offers,” said Rodney Richerson, Regional President of KBS.

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.
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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.
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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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