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Press Releases

KBS Strategic Opportunity REIT Acquires 125 East John Carpenter and 5100 North O’Connor in Irving, Texas

  • September 26, 2017
Press Releases

KBS Strategic Opportunity REIT Acquires 125 East John Carpenter and 5100 North O’Connor in Irving, Texas

  • September 26, 2017
IRVING, Texas. (Sept. 26, 2017) – KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, California, announced today the acquisition of 125 East John Carpenter and 5100 North O’Connor. The Class A, eighteen-story office tower and six-story office tower total 442,039 square feet and are currently 84 percent leased.

The buildings’ benefit from an excellent location near the heart of the Las Colinas market, which is a business and residential community centrally located between Dallas and Fort Worth. The greater Las Colinas area is home to more than 90,000 residents and includes upscale residencies, apartment complexes, recreational facilities, dining and city parks. Las Colinas provides diverse office space for many Fortune 500 companies and a professional job base.

The buildings’ will also benefit from being immediately adjacent to the new Gables Water Street mixed-use development as well as the Irving Music Factory, both of which will include new retail, restaurant and entertainment amenities. A diverse and stable tenant roster currently leases space in the office towers, with companies in financial services, health care, global packaging and strategic regional HQ offices.

“We look forward to expanding KBS’ footprint in Texas with the acquisition of this property,” said David Moore, senior vice president and asset manager for KBS Strategic Opportunity REIT. “We anticipate the key drivers of this property are the excellent location, walkable amenities and leasing opportunity. Texas and the DFW metroplex are national leaders in population and employment growth. We believe the thriving economy and job base, combined with its quality life style and cost of living make it an ideal location to recruit top talent.”

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 KBS Strategic Opportunity REIT’s ability to invest in and manage a diverse portfolio, the performance of 125 East John Carpenter and 5100 North O’Connor and the performance of the Irving real estate market. These statements are subject to known and unknown risks and other factors which may cause KBS Strategic Opportunity REIT’s and/or 125 East John Carpenter and 5100 North O’Connor 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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Underwriting the Perceived Instability of Short-Term Office Leases

  • February 16, 2021
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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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