KBS REIT Signs New 14,500 SF Lease at ADP Plaza in Portland

KBS Real Estate Investment Trust, a publicly registered non-traded real estate investment trust, signed a 14,500-square-foot lease at ADP Plaza. ExamWorks, a company that provides independent medical examinations, peer reviews and bill reviews, signed a new lease.

ADP Plaza, located at 2525 SW First Avenue, is a mid-rise office property located on the southern periphery of downtown Portland. The property consists of two interconnected four-story office buildings. There is a single level of underground parking with 285 parking spaces that offer direct access to the individual buildings via elevators. The property also includes a four-level adjacent parking structure, which accommodates 420 vehicles for a combined total of 705 parking stalls.

The REIT purchased ADP Plaza for $33.1 million in November 2007.

ADP Plaza tenants are within close proximity to multiple city parks, Portland’s central business district, and the city’s bus and light rail transit system.

“We are pleased to welcome ExamWorks to ADP Plaza,” said Clint Copulos, KBS vice president. “The property’s accessibility to a strong jobs market, along with the onsite amenities, make for a pleasant tenant experience, attracting great companies.”

KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts, and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $31.1 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs.

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