PITTSTON, PA-KBS REIT II purchased four industrial assets, two of them here and one each in Pennsylvania towns of Hazleton and Jessup, for $90 million. The four buildings, all constructed by Mericle Commercial Real Estate Services, make up a total of 1.6 million square feet.
KBS REIT II is an arm of Newport Beach, CA-based KBS Companies, which has completed about $20 billion in transactions since 1992. The firm owns a variety of commercial real estate assets across the country.
The two assets here that the fund aquired are the 744,080-square-foot 325 CenterPoint Bvd., which counts Kimberly-Clark as its main tenant and the 144,000-square-foot 125 Capital Rd., which houses baker Entenmann's.
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