KBS REIT I Renewed 175,088 SF Lease at Massachusetts Office Facility

KBS Real Estate Investment Trust, a non-traded real estate investment trust, signed a 175,088-square-foot lease at Rivertech in Billerica, Massachusetts. Entegris, a provider of products and materials used in advanced high-technology manufacturing, renewed its lease.

Located alongside the Concord River, Rivertech is comprised of two, two-story buildings totaling 285,772 rentable square feet. Entegris leases the entire building at Rivertech II and has been a tenant since 2001.

“We are pleased that Entegris has chosen to once again extend its term at Rivertech,” said Shannon W. Hill, senior vice president at KBS. “Rivertech’s location along the Route 3 corridor is easily accessible from all directions, making it a great option for tenants seeking high quality office/R&D space.”

KBS REIT I purchased the property in February 2008 for $45.2 million.

KBS Real Estate Investment Trust, which launched its initial public offering in January 2006, stopped selling common shares in May 2008 and terminated its dividend reinvestment plan in April 2012. The company raised $1.7 billion in the primary offering and $233.7 million under the dividend reinvestment plan. As of March 31, 2015, its portfolio consisted of 350 real estate properties, as well as four real estate loans receivable, and a participation interest in a real estate joint venture.

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