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KBS REIT Signs Seven Leases at Tysons Dulles Plaza Near Washington D.C.

KBS Real Estate Investment Trust, a public registered non-traded real estate investment trust, signed seven leases totaling 35,800 square feet at Tysons Dulles Plaza in McLean, Virginia with companies in the technology, legal and real estate industries.

Tysons Dulles Plaza is a Class A, three-building office complex offering 487,775 rentable square feet. Since 2014, KBS has spent more than $24 million in renovations, including a new conference facility and fitness center. The property also offers a putting green, flexible 28,000-square-foot floor plates, balconies, outdoor patios and surface and covered parking.

“The increasingly successful leasing activity at Tysons Dulles Plaza is evidence of the investment that we put towards the improvements and amenities of our properties,” said Stephen Close, senior vice president and asset manager of the property. “We believe that the property’s prime location also adds to its appeal, and we look forward to welcoming new tenants and continuing our relationship with current tenants.”

The largest recent leases at the property were signed by Jefferson Apartment Group, which renewed 7,839 square feet, Spry Methods Inc., which signed a 7,544-square-foot new lease, and Sphere of Influence Inc., renewing 7,444 square feet of space.

The office complex is located within the Tysons Corner submarket of northern Virginia within close proximity of the Maryland and Virginia suburbs, as well as downtown Washington, D.C. Tenants can easily access Dulles International and Reagan National airports.

KBS REIT went effective in January 2006 and closed its offering in May 2008 after raising $1.7 billion in investor equity. The company owns 232 real estate properties (of which 23 properties were held for sale), according to its last quarterly filing with the Securities and Exchange Commission. In May 2016, the REIT announced its intention to market its assets for sale.

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