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Press Releases

KBS Signs Over 102,000 Square Feet in Leases at Crossroads Distribution Center

  • January 25, 2018
Press Releases

KBS Signs Over 102,000 Square Feet in Leases at Crossroads Distribution Center

  • January 25, 2018
CHARLOTTE, N.C., (Jan. 25, 2018) – KBS Realty Advisors of Newport Beach, California announced today the signing of 102,155 square feet in leases at Crossroads Distribution Center in Charlotte, North Carolina.

Dynamic Design Solutions, a full-service design & build resource for the industrial marketplace, signed a new lease for 21,115 square feet. Additionally, Bedrosians Stone and Tile, an independent porcelain tile and stone importer and distributor, renewed their lease for 25,600 square feet while Metrie Inc., a supplier and manufacturer of solid wood and composite moulding, renewed and expanded their lease for a total of 55,440 square feet.

Crossroads Distribution Center is an industrial property consisting of four warehouse buildings, all equipped with 50-foot concrete aprons and asphalt truck courts ranging from 110 to 140 feet. The buildings also have 6-inch reinforced concrete floors, large skylights in the warehouses and exterior security lighting. The property is conveniently located under a mile from I-77 and just 15 minutes to Charlotte-Douglas International Airport.

“With easy access to I-77 and interstate exposure, Crossroads Distribution Center’s desirable location provides a suitable home for our tenants importing and exporting products from their facilities,” said Allen Aldridge, senior vice president at KBS and asset manager for the property. “We are pleased to welcome Dynamic Design Solutions, and hope they will join Bedrosians Stone and Tile and Metrie Inc. as long-term valued tenants and part of the KBS family.”

Scott Dumler of Cresa Partners represented Metrie Inc, while Charlie Ripple of Cushman & Wakefield represented KBS in the respective transactions.

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’s ability to invest in and manage a diverse portfolio, and the performance of Crossroads Distribution Center and of the Charlotte real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS’s and/or Crossroad Distribution Center’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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