KBS Signs 135,734 Square Feet of Leases with 19 Global, National and Local Tenants at Five Texas-Based Class A Office Properties

Alexandra Cullins

 NEWPORT BEACH, CA, Oct. 27, 2021 – KBS, one of the largest investors in commercial real estate, has signed over 135,000 square feet in new leases, renewals, extensions and expansions over the last three months with 19 global, national and local tenants at five Class A Texas-based office properties.

They are Fountainhead Tower and City View in San Antonio, which are institutionally owned, Preston Commons and Sterling Plaza in Dallas, and Legacy Town Center I-III in Plano, which are owned by KBS Real Estate Investment Trust III.

Lindsey Tucker

 Migration to Texas has risen dramatically in recent years, paired with corporate relocations from other markets, which has been occurring consistently for the last two decades.

Kelly Ralston

Texas’ commitment to creating an ideal environment for businesses to thrive, combined with the state’s easing of restrictions that allowed people to make their own decisions about returning to the office early during the pandemic, have boosted the office sector in key Texas markets where KBS owns and manages property, according to Gio Cordoves, Western regional president for KBS.

Gio Cordoves

“KBS’ diversification strategy includes signing leases at our properties with multiple tenants from a wide variety of industries,” says Brett Merz, asset manager for Fountainhead Tower, Preston Commons, Sterling Plaza and Legacy Town Center I-III and senior vice president for KBS.

Brett Merz

“This strategy helps to create stability in our rent rolls and positions our assets for strong performance.”

Jackie Marshall

 Kelly Ralston of Transwestern handled the leasing transactions for Fountainhead Tower on behalf of KBS.

 Dennis Barnes

Lindsey Tucker of CBRE handled leasing transactions for City View on behalf of KBS.

 Dennis Barnes, Jackie Marshall, and Alexandra Cullins of CBRE handled the leasing transactions for Preston Commons, Sterling Plaza and Legacy Town Center I-III on behalf of KBS.

For a complete list of all transactions cited in this release, please contact: 

Lara Sassounian 

lsassounian@brower-group.com

www.kbs.com.

 

JLL arranges $315.4 million sale of nine-property office portfolio in the Sorrento Mesa submarket in San Diego, CA

 

Lynn LaChapelle

SAN DIEGO, Oct. 27, 2021 – JLL announced today that its Capital Markets group has completed the $315.4 million sale of a nine-property office portfolio totaling 371,281 square feet in San Diego, California.

 JLL represented the seller, PS Business Parks, and procured the buyer, Longfellow Real Estate Partners, LLC. Longfellow intends to redevelop the entire portfolio into a state-of-the-art life sciences campus.

Bob Prendergast

The portfolio comprises properties located at 6150, 6160, 6370, 6440, 6450, 6540, 6640 and 6650 Lusk Blvd. and 10225 Barnes Canyon Rd. in the heart of the Sorrento Mesa submarket.

All nine properties are two-story buildings that are zoned for office, light industrial and other commercial uses, including life sciences.

 Positioned on a total of 20.56-acres, the properties are surrounded by numerous top life sciences corporate headquarters and emerging technology companies.

In addition, the portfolio has convenient access to top San Diego research institutions, including Scripps Research, UC San Diego, the Salk Institute and Sanford Burnham Prebys Medical Discovery Institute.

Sach Kirpalani 

 The JLL Capital Markets team representing the seller was led by Managing Directors Lynn LaChapelle and Bob Prendergast, Senior Director Sach Kirpalani and Senior Managing Director Michael Leggett.

 “This was a rare opportunity to acquire a life sciences redevelopment opportunity of scale in one of San Diego’s hottest emerging life sciences and innovation hubs,” LaChapelle said.

“We received tremendous investor interest in the offering and are really excited to see Longfellow take ownership and transform the property into a modern life sciences campus.”

Michael Leggett

 JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

CONTACT:

Kimberly Steele

PR, Capital Markets

Agency Leasing and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

info@lfrep.com.

Alliant National Announces the Hiring of Perry Craver as Florida Underwriting Counsel

Perry Craver   Longmont, CO, Oct. 27, 2021 – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, announces the hiring of Perry Craver as Florida Underwriting Counsel. A seasoned and knowledgeable professional, Craver brings over 25 years of experience in the title insurance industry – having worked on both the underwriter and agent sides of the profession.  Brenda Cannon “Perry is an incredible underwriter and title professional who brings a seasoned outlook, deep industry knowledge and an amazing passion for all things title,” said Brenda Cannon, Alliant National’s Regional Counsel Florida and Senior Vice President.  “With over 25 years of experience under his belt, he will be a great addition to the Alliant National team in Florida.” Craver received his J.D. from Nova Southeastern University – Shepard Broad Law Center. He previously obtained his B.S. in political science from North Carolina State University.  A member of the Florida Bar, Craver is a licensed title agent in 25+ states, including Florida. He lives with his wife and two daughters in Jacksonville, Florida. Please visit alliantnational.com for additional information.

CONTACT: Cathie Beck 303.241.0805 cathie@capitalcitypr.com

Construction completed on Toyota Financial Services Experience Center West in Chandler, AZ

Toyota Financial Services Experience Center West, Chandler, AZ

(Photography credit: Benny Chan, Fotoworks)

 

PHOENIX, AZ – Ware Malcomb, an award-winning international design firm, today announced the completion of the Toyota Financial Services (TFS) Experience Center West, located in Allred Park Place at 1650 S. Price Road in Chandler, Arizona.

  Ware Malcomb provided workplace strategy, interior architecture and branding services for this project.

Ware Malcomb partnered with TFS to provide design services for the consolidation of 29 locations into three regional experience centers – West, Central, and East.

Toyota Financial Services Experience Center West, Chandler, AZ

 The firm also provided design services for the East experience center located in Alpharetta, GA. For these locations, the aesthetics needed to reflect the natural professionalism of Toyota's brand yet align with a regional design expression.  

“We are honored to partner with Toyota Financial Services as they strategically consolidate their United States footprint,” said Mary Cheval, Principal at Ware Malcomb. 

Mary Cheval

“The company’s commitment to sustainability and customer service excellence is woven into their DNA and is especially visible in the new experience centers.”

Toyota Financial Services West is a 56,219 square foot workplace organized into neighborhoods with a variety of spaces to support employees’ unique work styles and changing needs.

The general contractor for the project was hardison/downey construction, inc.

 For more information, please visit http://www.waremalcomb.com/news and view Ware Malcomb’s BrandVideo at youtube.com/waremalcomb.

  

CONTACTS:

 

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

 Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com