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Press Releases

KBS Strategic Opportunity REIT Acquires Crown Pointe in Atlanta Submarket

  • February 14, 2017
Press Releases

KBS Strategic Opportunity REIT Acquires Crown Pointe in Atlanta Submarket

  • February 14, 2017
DUNWOODY, Ga. (Feb. 14, 2017) – KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, California, announced today the acquisition of Crown Pointe in Dunwoody, a northern suburb of Atlanta, for $83.4 million. Crown Pointe is a Class A, two-building, 499,968-square-foot office property in Atlanta’s Central Perimeter submarket. The office towers are located at 1040 and 1050 Crown Pointe and boast 10 and 17 stories, respectively.

Onsite amenities at the property include a fitness center, business center, café, garage and surface parking, and a courtyard with landscaped gardens, granite waterfall features and shaded seating areas. KBS plans to make improvements to the property, including lobby and restroom renovations, enhancements to the fitness center, courtyard and common areas. Tenants can walk to a variety of dining, retail and hotel options near Crown Pointe, including Starbucks, Panera Bread, Target and the Perimeter Mall. Tenants can also easily commute to the property, which is located minutes from GA 400 and the Sandy Springs MARTA station, and also connects with I-285.

“We look forward to expanding KBS’ footprint in the Atlanta area with the acquisition of Crown Pointe,” said Jeff Rader, senior vice president at KBS and asset manager for the property. “Metro Atlanta’s thriving economy and job base, combined with its high quality and lower cost of living make it an ideal location to recruit top talent. The Central Perimeter submarket has been evolving into a bustling, 24/7 environment and is considered one of the Southeast’s largest employment centers. We believe tenants will enjoy working in this location.”

A diverse tenant roster currently leases space in the office towers, with companies in industries such as insurance, financial services, IT, law, engineering, healthcare, manufacturing and retail.

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 Crown Pointe and the performance of the Dunwoody 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 Crown Pointe’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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  • February 16, 2021
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Envisioning the Future of the Built Environment

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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.
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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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