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KBS Strategic Opportunity REIT Signs 16,200 SF Lease at Park Centre in Austin

KBS Strategic Opportunity REIT, a non-traded real estate investment trust, signed a new 16,200-square-foot-lease with Xplore Technologies at Park Centre, a class A office complex located in Austin, Texas.

Xplore Technologies develops, integrates, and markets industrial-grade rugged tablets for customers in sectors ranging from energy and utilities to transportation, manufacturing and military.

Park Centre consists of three buildings totaling 203,193 rentable square feet and is situated on 32.4 acres along the Loop 360 Corridor. Onsite amenities include a fitness center, deli, and conference center, as well as structured and surface parking.

“Park Centre offers tenants a truly unique workplace environment in a beautiful park-like setting with a great location and a strong offering of amenities,” said David Moore, senior vice president at KBS. “We are looking forward to welcoming Xplore Technologies to Park Centre II.”

KBS Strategic Opportunity REIT, which went effective in November 2009 and closed in November 2012, raised $561.7 million in its primary offering and has sold $49.4 million in DRIP shares, according to the most recent quarterly filing with the Securities and Exchange Commission.

The REIT owns 26 office properties, one retail property, two multifamily properties, two investments in undeveloped land totaling 1,670 acres, one first mortgage loan and two investments in unconsolidated joint ventures.

KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts, and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $31.5 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs.

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