California-based non-traded REIT, KBS Strategic Opportunity REIT, announced today the signing of leases with E2open, Inc., a leading provider of cloud-based, on-demand software solutions. E2open has renewed and expanded its lease to 17,000 square feet at Great Hills Plaza in Austin, Texas.
Originally purchased by KBS Strategic Opportunity REIT in 2013, Great Hills Plaza is a 139,252 square-foot office property. The property is part of the REIT’s Austin Suburban Portfolio, which it acquired for $76 million.
Great Hills Plaza’s location makes it easy to access from the Austin suburbs, near the corridor along Loop 360. The area is known as “Silicon Hills,” and attracts technology tenants.
“We’re excited about E2open’s decision to renew and expand its presence at Great Hills Plaza,” said KBS Senior V.P. David Moore. “We believe this property is in a prime location for technology companies like E2open.”
Through the use of collaborative planning and execution across global trading networks, E2open’s goal is to enable enterprises to obtain, manufacture, sell, and distribute products more efficiently.
Sponsored by KBS Realty Advisors, KBS Strategic Opportunity REIT closed its initial public offering in November 2012 after raising $561.7 million.