KBS Real Estate Investment Trust III, a publicly registered non-traded REIT, signed 12,754 square feet in renewal leases at Carillon in Charlotte, North Carolina. The Arts & Science Council of Charlotte and Fisher Phillips LLP, a labor and employment law firm, renewed their leases.
Located in Charlotte’s central business district, Carillon is a class A, 24-story office tower that totals 476,000 rentable square feet. Onsite amenities, include an adjoining 10-story parking garage, a car wash, childcare services, a conference center, casual and formal dining options and a fitness center with personal training services, saunas and locker rooms. The office tower’s lobby features a rotating art gallery and the 40-foot sculpture, “Cascade” by artist Jean Tinguely.
Earlier this year, KBS REIT III purchased the Carillon office tower from Hines for $147 million, as reported by The DI Wire.
“We are very glad that the Arts & Science Council of Charlotte and Fisher Phillips LLP have chosen to extend their time in such an iconic building,” said Allen Aldridge, senior vice president at KBS and asset manager for the property. “Carillon offers our tenants top-notch amenities in a 24/7 mixed-use environment, and we believe it’s a building that tenants are proud to be located in.”
KBS Real Estate Investment Trust III, which focuses on investing in multi-tenant office buildings, went effective in October 2010 and closed in May 2015 after raising $1.9 billion in investor equity. The company oversees a portfolio of 29 properties with an investment cost of $3.3 billion, as of June 30, 2016.