May 25, 2016 Comments Off on KBS REIT Acquires Silicon Valley Asset for $51.5M Views: 534 California News, Orange County, West

KBS REIT Acquires Silicon Valley Asset for $51.5M

Newport Beach, CA-based KBS Strategic Opportunity REIT II acquired Lincoln Court, a 123,529-square-foot, Class A, three-story office building in Campbell, CA for $51.5 million. The non-traded REIT acquired the Silicon Valley asset from Washington, DC-based The Carlyle Group.

Lincoln Court is located at 2105 South Bascom Ave. and was recently renovated, including an updated lobby, interior finishes, and a courtyard with Wi-Fi, a fountain and several seating areas. The 98%-leased property offers a two-level parking structure, with 474 parking spots.

HFF’s Ben Bullock represented Carlyle in the acquisition transaction. Colliers International’s Susan Gregory and David Sandlin handled leasing for Lincoln Court.

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