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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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