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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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