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Press Releases

KBS Signs Over 100,000 Square Feet with Wells Fargo at 171 17th Street in Atlanta

  • September 19, 2018
Press Releases

KBS Signs Over 100,000 Square Feet with Wells Fargo at 171 17th Street in Atlanta

  • September 19, 2018
ATLANTA (Sept. 19, 2018) – KBS, based in Newport Beach, California, announced today the signing of a lease renewal for over 100,000 square feet at 171 17th Street in Atlanta. Wells Fargo, a financial services company providing banking, investment and mortgage products and services to one in three households in the United States, renewed its lease at the property. 171 17th Street is part of the KBS Real Estate Investment Trust III portfolio.

“A key selling-point for 171 17th Street is its dynamic and central location,” said Allen Aldridge, senior vice president for KBS and asset manager for the property. “Wells Fargo’s continuing commitment is a testament to the office building’s accessibility and multi-functionality, enabling a great work-life balance.”

The 21-story, Class A office tower offers over 510,000 square feet of rentable space. Built in 2004, the property was the first skyscraper built west of Atlanta’s Downtown Connector and was the first-ever LEED Silver Core & Shell-certified building in the world. In addition to the property’s onsite amenities, which include a restaurant, indoor and outdoor tenant lounge, conferencing facilities and shuttle service, the office building is equipped with an expansive lobby with high-end finishes, column-free floor plates and floor-to-ceiling windows.

171 17th Street is the cornerstone office tower of the larger Atlantic Station mixed-use project, which includes a variety of restaurants, retail and services, residential and close proximity to Georgia Institute of Technology, one of the country’s leading universities for research and technology. The property also has direct access to I-75 and I-85.

JLL represented Wells Fargo and Glenn Kolker and Sonia Winfield of Cushman & Wakefield represented KBS in the transaction.

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including statements relating to KBS REIT III’s ability to invest in and manage a diverse portfolio, and the performance of 171 17th Street and of the Atlanta real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT III’s and/or 171 17th Street’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Media Contact

Ginny Walker

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

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Industry Trends

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

  • 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.
Industry Trends

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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