A KBS public non-traded REIT recently announced that a new tenant has signed a lease for 11,809 square feet of office space.
KBS Strategic Opportunity REIT, Inc. (Opportunity REIT) leased space at its 6575 West Loop South property in Bellaire, Texas to Regus, a provider of flexible workspace solutions in over 2,000 locations worldwide.
“We are excited to welcome Regus as a new tenant at this office property,” said David Moore, Senior Vice President of KBS.
Regus leases executive suites, office space, virtual offices, and conference rooms, plus provides other services such as call handling and mail service to small businesses and large corporate clients.
Opportunity REIT’s property known as West Loop I & II, serves as an ideal location for Regus and its clients. The office complex sits on 5.6 acres and consists of 313,873 square feet across two buildings, plus it offers an eight-story parking garage.
“We believe West Loop South benefits tenants first and foremost by location, with easy access to downtown Houston and the Galleria area,” added Moore.
KBS Strategic Opportunity REIT is closed to new investors and has just over $1 billion in invested assets as of September 30, 2014.
As of December 31, 2014, the REIT’s portfolio consisted of 12 office properties, one office campus, two office portfolios, one retail property, two apartment properties, two investments in undeveloped land, one first mortgage loan, and two investments in unconsolidated joint ventures.