Newport Beach, CA-based KBS Realty acquired the 625,000-square-foot property in 2005 for $85.6 million. It hired FirstService Williams senior managing director Drew Persson to lease the park, which is now nearly 90% occupied, up from 64% when KBS first acquired the project.
"More so than ever, tenants are doing due diligence on landlords and are extremely pleased with KBS Realty and the facilities at Woodbridge Corporate Plaza," Persson says in a statement. "KBS is well-capitalized and meets tenants' needs on time and as agreed to."
Persson noted that KBS has invested more than $3 million in capital improvements over the past 18 months, including modernizing the HVAC systems, landscaping and interior common areas. The owner also added more than 250 parking spots.
Included in the 15 deals were four leases that totaled approximately 60,000 square feet. They were:
- EPCOS Inc. signed a 10-year, 18,500-square-foot lease. Ed Duenas and Lauren Rufino of Cushman & Wakefield represented the tenant;
- H&M Transportation took 15,000 square feet for seven years under the direction of Frank Lopriori and John Donnelly of Grubb & Ellis;
- Concentra Health was advised by Matt Saker of CB Richard Ellis in its five-year, 15,000-square-foot contract;
- Bank of Tokyo sealed a 10-year, 10,500-square-foot lease. It was repped by Curtis Foster of Cushman & Wakefield.
Other anchor tenants at Woodbridge Corporate Plaza include MetLife, BNP Paribas and the corporate headquarters of Maidenform.
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