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Press Releases

KBS Signs Over 14,000 Square Feet in Leases with Lion Street at 515 Congress in Austin

  • September 27, 2018
Press Releases

KBS Signs Over 14,000 Square Feet in Leases with Lion Street at 515 Congress in Austin

  • September 27, 2018
AUSTIN, Texas (Sept. 27, 2018) – KBS, based in Newport Beach, California, announced today the signing of 14,068 square feet in leases at 515 Congress in Austin, Texas. Lion Street, a leading financial services company, renewed nearly 11,000 square feet and leased an additional 3,000 square feet. The office property is part of the KBS Real Estate Investment Trust III portfolio.

The building is a 26-story Class A office tower with over 263,000 square feet of rentable space. The property offers unobstructed views of the State Capitol, Congress Avenue and Lady Bird Lake, and access to 12,000 square feet of street-level retail. Tenants benefit from onsite amenities including a private fitness and training center with showers and lockers, coffee bar, restaurants and more.

Located in downtown Austin, 515 Congress is a short walk to waterfront views at the Colorado River. The property’s central location offers easy access to many historic landmarks, including Austin’s Historic Center and Public Library, the Texas State Capitol Building and Texas Governor’s Mansion. Tenants at the property are also in close proximity to multiple dining options such as Eddie V’s Prime Seafood and The Capital Grille.

“Longstanding tenants like Lion Street continue to enjoy the dynamic and historic area,” said Giovanni Cordoves, senior vice president for KBS and asset manager for the property. “The floor-to-ceiling windows and views of the downtown skyline make 515 Congress a highly desirable place to office in downtown Austin.”

Stream Realty 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 Real Estate Investment Trust III’s ability to invest in and manage a diverse portfolio, and the performance of 515 Congress and of the Austin real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS Real Estate Investment Trust III’s and/or 515 Congress’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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