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Press Releases

KBS Sells Stonebridge Plaza I & II in Austin

  • September 4, 2018
Press Releases

KBS Sells Stonebridge Plaza I & II in Austin

  • September 4, 2018
AUSTIN, Texas (September 4, 2018) – KBS, based in Newport Beach, California, announced today the sale of Stonebridge Plaza I & II, a two-building, Class A office property located at 9600 and 9606 North MoPac Expressway in Austin. The 388,024-square-foot property was acquired by Intercontinental Real Estate Corporation on behalf of its managed fund, U.S. Real Estate Investment Fund, LLC. KBS Realty Advisors originally acquired Stonebridge Plaza I & II in August 2016.

Stonebridge Plaza I & II are both nine-story office
towers situated on an elevated 5.1-acre site, offering unobstructed views of
the Domain and downtown Austin. The LEED-certified properties are adjoined by a
seven-story parking garage. The office towers are located between the
intersections of US 183, US 360 and the MoPac Expressway, which enables easy
access to Austin’s northwest suburbs, the city’s central business district and
nearby housing. In addition to the attractive location, KBS renovated
Stonebridge Plaza I & II to include a new outdoor space and updated
facilities. The property is fully leased.

“KBS’ investment at Stonebridge Plaza I & II has been
highly successful due to the strength of Austin’s leasing market. With the
marketing and leasing efforts of Edvin Beasley and Connor Atchley with Stream
Realty, KBS was able to sign new, renewal or expansion leases touching nearly
all of the 400,000 square foot project in only two years’ time,” said Gio
Cordoves, KBS senior vice president. “The office property and its location have
continued to be highly desirable. KBS, along with Stream Realty, completed a
tremendous amount of leasing in a very short period of time in addition to
repositioning many of the property’s common areas. We are deeply proud of this
accomplishment.”

Michael McDonald and Evan August of Eastdil Secured represented KBS in the transaction.

Media Contact

Ginny Walker

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

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