Search
 

KBS Buys Great Oaks Center

ATLANTA-The REIT pays nearly $35 million for the 235,000-sf suburban retail center.

By Carl Cronan | Updated on July 21, 2008

ATLANTA-KBS Real Estate Investment Trust has purchased the 235,224-sf Great Oaks Center in suburban Alpharetta, GA, for $34.8 million, or $148 per sf. The retail center joins ten other local properties purchased by the Newport Beach, CA-based REIT.

Great Oaks consists of four single-story office buildings completed in 1999 that are fully leased to tenants: including SunGard Recovery Services, InterContinental Hotels Group, Toyota Motor Sales and the Shaw Group. The center is part of Alpharetta’s 336-acre Royal 400 master-planned office park, just off the Georgia 400 thoroughfare in north Fulton County, and is adjacent to Royal Ridge, which KBS bought last year.

“The North Fulton/Georgia 400 corridor remains an especially attractive investment submarket,” says Len Bravo, KBS senior vice president in Atlanta. He adds that the proximity of Royal Ridge and Great Oaks allows the landlord to “expand our presence and synergize our management efforts” in that submarket.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.