May 24, 2019
Newport Beach, CA-based KBS divested two office assets and executed a lease renewal with Cushman & Wakefield. Emerald View at Vista Center, a two-building Class A office property in West Palm Beach, FL, was divested for $40 million to Chicago-based Vanderbilt Partners.
Additionally, Pierre Laclede Center, an iconic, two-building, Class A office complex totaling 579,846 square feet in the St. Louis-area city of Clayton, MO, was sold to Richmond, VA-based Lingerfelt CommonWealth Partners. The price was undisclosed.
The 139,471-square-foot Florida asset sale was handled by CBRE’s Christian Lee, Jose Lobon, Kevin Probel, Kevin McCarthy and Tyler Ploshnick.
The Missouri properties in Clayton’s CBD at 7701 and 7773 Forsyth Blvd. were handled by HFF’s Jaime Fink, Jeffrey Bramson, Danny Kaufman, Bryan Rosenberg, Patrick Shields and Sam DiFrancesca.
KBS also signed a nearly 40,000-square-foot lease renewal with Cushman & Wakefield at Northland Center in Bloomington, MN (pictured). The landlord was represented by Bill Rothstein and Dan Wicker with Cushman & Wakefield.
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