Press Releases



Longfellow Acquires Palo Alto Technology Center from KBS for $205 Million

July 29, 2019

(SILICON VALLEY, CA) -- July 29, 2019 -- Longfellow Real Estate Partners, which invests in life science, lab and innovation space across the U.S., announced today the acquisition of the Palo Alto Technology Center (PATC) from KBS, one of the largest owners of premier commercial real estate in the nation, for $205 million.

KBS Announces the Sale of Financial Center at the Gardens in Palm Beach Gardens, Florida for More Than $71 million

July 23, 2019

PALM BEACH GARDENS, Calif. (July 23, 2019) – KBS, one of the largest owners of commercial real estate, today announced the sale of Financial Center at the Gardens, a Class A office property in West Palm Beach Gardens, Florida. Financial Center at the Gardens is a 10-story office building spanning 188,950 square feet.

Financial Center at the Gardens was purchased for $71.8 million by New York Life Insurance Company, one of the largest life insurers in the world. KBS originally purchased the property in 2015 in a joint venture with a sovereign partner.

KBS REIT III COMPLETES SUCCESSFUL DISPOSITION OF $1.2 BILLION CLASS A OFFICE PORTFOLIO

July 19, 2019

NEWPORT BEACH, Calif. (July 19, 2019) – KBS, one of the largest owners of commercial real estate in the nation, has announced that on July 18, KBS Real Estate Investment Trust III, Inc. (KBS REIT III) sold 11 of its properties for $1.2 billion.

KBS’ 500 West Madison to be Rebranded as Accenture Tower

July 10, 2019

CHICAGO, IL. (July 10, 2019) — KBS, one of the largest owners of commercial real estate, announced today that 500 West Madison in Chicago will become Accenture Tower. Today, alongside Illinois Governor JB Pritzker and Chicago Mayor Lori Lightfoot, Accenture (NYSE: ACN) a leading global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations, announced its lease at the property by 152,454 square feet and now leases a total of 226,486 square feet, making it the anchor tenant of the building. The property is owned by KBS Real Estate Investment Trust III.

KBS Embarks on a $20 Million Repositioning Project for Union Bank Plaza in Downtown Los Angeles

July 9, 2019

NEWPORT BEACH, Calif. (July 9, 2019) – KBS, one of the largest owners of commercial real estate, has announced the start of a $20 million renovation that will give Downtown Los Angeles’ iconic Union Bank Plaza (UBP) multiple competitive community features including an entirely reimagined two-story retail level, high-level finishes in the property’s conference center, a spacious, modern outdoor seating area with fire pits, and a best-in-class lobby. Located at 445 S. Figueroa Street, UBP is a Class A office tower owned by KBS Real Estate Investment Trust II.

Zoom Expands its Lease at KBS’s The Almaden to More than 87,000 Square Feet

June 25, 2019

NEWPORT BEACH, Calif. (June 25, 2019) — KBS, one of the largest owners of commercial real estate, announced today that Zoom Video Communications, Inc., a video-first unified communications provider, renewed and expanded its lease to 87,025 square feet at The Almaden in San Jose, California. The property is owned by KBS Real Estate Investment Trust III.

Fairfax Radiological, Hardesty & Hanover and Right at Home Sign More than 30,000 Square Feet in Leases at KBS’s Willow Oaks Corporate Center

June 12, 2019

NEWPORT BEACH, Calif. (June 12, 2019) — KBS, one of the largest owners of commercial real estate, announced today that the following three businesses have signed 30,739 square feet in leases at Willow Oaks Corporate Center in Merrifield, Virginia: Fairfax Radiological Consultants, the largest private radiology practice in the Washington, D.C. metro area, Hardesty & Hanover, a full-service infrastructure engineering firm and Right at Home, a provider of in-home healthcare for the elderly and disabled. The property is owned by KBS Real Estate Investment Trust II.

KBS RENEWS 40,000 SQUARE-FOOT LEASE WITH CUSHMAN & WAKEFIELD AT NORTHLAND CENTER

May 23, 2019

NEWPORT BEACH, Calif. (May 23, 2019) — KBS, one of the largest owners of commercial real estate, announced today that Cushman & Wakefield renewed its 39,565 square foot lease at Northland Center in Bloomington, Minnesota. To add further appeal to the property, KBS plans to modernize the 40,000sf concourse level adding to the amenities already available to tenants. With 492,514sf of rentable space, Northland Center is located in the heart of the Southwest suburban commercial district at the intersection of I-494 and France Avenue with close proximity to the airport and bordering the highly affluent city of Edina, Minnesota. Its location provides an abundance of shopping, dining, hospitality and entertainment options including the Edina Galleria.

KBS ANNOUNCES THE SALE OF EMERALD VIEW AT VISTA CENTER IN WEST PALM BEACH FOR $40 MILLION

May 23, 2019

NEWPORT BEACH, Calif. (May 23, 2019) – KBS, one of the largest owners of commercial real estate, today announced the sale of Emerald View at Vista Center, a two-building Class A office property in West Palm Beach, Florida. Emerald View at Vista Center was purchased for $40 million by a partnership including Vanderbilt Office Properties, a Chicago-based commercial real estate investment firm. Emerald View at Vista Center had been part of the KBS Real Estate Investment Trust II Portfolio.

KBS AND HFF PARTNER TO CLOSE THE SALE OF THE PIERRE LACLEDE CENTER IN CLAYTON, MISSOURI

May 23, 2019

NEWPORT BEACH, Calif. (May 23, 2019) – KBS, one of the largest owners of commercial real estate and Holliday Fenoglio Fowler, L.P. (HFF) announced today the sale of the Pierre Laclede Center, an iconic, two-building, Class A office complex totaling 579,846 square feet in the St. Louis-area city of Clayton, Missouri. HFF marketed the property on behalf of the seller, KBS. The property was purchased by Lingerfelt CommonWealth Partners, a national real estate investment management firm based in Richmond, Virginia. The Pierre Laclede Center was part of the KBS Real Estate Investment Trust II portfolio.