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KBS REIT II Signs 21,000 SF Lease at Pierre Laclede Center in Clayton, Missouri

KBS Real Estate Investment Trust II, a publicly registered non-traded real estate investment trust, signed a 20,606-square-foot lease at Pierre Laclede Center in the St. Louis submarket of Clayton, Missouri. Capes Sokol, a law firm, renewed 15,527 square feet of office space and signed a new 5,079-square-foot lease at the property.

Pierre Laclede Center is a two-building, 579,846-square-foot office complex located on five acres that the REIT purchased in February 2010 for $74.25 million. The property includes a fitness center equipped with lockers and showers, a full-service café, garage parking, a car wash, security and two full-service banks. The St. Louis Club, a local business club, is also located at Pierre Laclede Center.

“Pierre Laclede Center is an iconic office building with a strong set of amenities in a vibrant and accessible location,” said Brett Merz, senior vice president at KBS and asset manager for the property. “We are pleased that Capes Sokol has renewed and expanded its space.”

Capes Sokol, a resident of Pierre Laclede since inception, is a St. Louis-based law firm focusing on business, commercial and intellectual property litigation; trusts and estates; white collar and other criminal defense matters; tax litigation and controversy; and corporate and real estate matters.

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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