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KBS REIT II Renews 17,400 Square Foot Lease at Granite Tower in Denver

KBS Real Estate Investment Trust II, a publicly registered non-traded real estate investment trust, renewed a 17,389-square-foot lease at Granite Tower with Jackson Kelly PLLC, a national law firm.

Granite Tower, located in Denver’s central business district, is a 13-story class A office tower totaling 563,000 square feet. The LEED Gold-certified property includes reserved parking, outdoor patios and an onsite restaurant. Granite Tower was purchased by KBS REIT II in December 2010 for $149 million.

“We are pleased to continue our relationship with Jackson Kelly PLLC,” said Mark Brecheen, senior vice president at KBS and asset manager for the property. “Granite Tower’s onsite amenities and prime location continues to attract tenants who are seeking a more holistic, 24/7 live, work, play environment.”

Granite Tower is located in the Lower Downtown Historic District, near University of Colorado-Denver and University of Denver, as well as various entertainment options including Coors Field and Sports Authority Field at Mile High.

KBS REIT II went effective in April 2008 and closed its primary offering in March 2011 after raising $1.8 billion in investor equity. The company’s portfolio consists of 11 office properties (10 office properties and an office campus consisting of eight office buildings) and one real estate loan receivable. As of June 30, 2016, the company’s real estate portfolio was 89 percent occupied.

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