Iron Point Business Park Has Full Retention

SACRAMENTO–Three lease renewals and one new lease are now completed at the Iron Point Business Park located at 1110-1180 Iron Point Rd. in Folsom, CA, according to KBS Strategic Opportunity REIT, a public, non-traded real estate investment trust.  Coldwell Banker Residential renewed 5,007 square feet. Engineering consultant, Peterson Brustad Inc. renewed 3,414 square feet. Stewart Title of Sacramento renewed 3,311 square feet and First American Title signed a new, 8,540-square-foot lease.

Jeff Rader, senior vice president of KBS, tells GlobeSt.com: “Our tenant base at Iron Point is committed to the asset and we have achieved 100% retention of existing tenants this year. Beyond our amenity base, location and class-A product, we have increased occupancy by adopting a specialized suite program borrowed from successes in other markets. Tenants are attracted to our new, higher-level finishes, including upgraded kitchens with stainless steel appliances, LED lighting and a variety of flooring options that provide a more inviting work environment. Our newest innovative suite is scheduled to be ready in the third quarter.”