KBS Real Estate Investment Trust (KBS REIT), a non-traded real estate investment trust based in Newport Beach, California, announced today the signing of seven leases totaling 35,797 square feet at Tysons Dulles Plaza in McLean, Virginia with companies in the technology, legal and real estate industries. Tysons Dulles Plaza is a Class A, three-building office complex offering 487,775 rentable square feet.
Since 2014, KBS has spent over $24 million in renovations at the property, including a new conference facility and fitness center. Tysons Dulles Plaza also offers a putting green, flexible 28,000-square-foot floor plates, balconies, outdoor patios and ample surface and covered parking.
The office complex is conveniently located within the Tysons Corner submarket of northern Virginia within close proximity of the Maryland and Virginia suburbs, as well as downtown Washington, D.C. Tenants can easily access Dulles International and Reagan National airports, and a shuttle system that takes employees to and from the Spring Hill Metro station along the Silver Line. There are also many shopping and dining options near the complex.
“The increasingly successful leasing activity at Tysons Dulles Plaza is evidence of the investment that we put towards the improvements and amenities of our properties,” said Stephen Close, senior vice president and asset manager of the property. “We believe that the property’s prime location also adds to its appeal, and we look forward to welcoming new tenants and continuing our relationship with current tenants.”
The largest recent leases at the property were signed by Jefferson Apartment Group, which renewed 7,839 square feet, Spry Methods Inc., which signed a 7,544-square-foot new lease, and Sphere of Influence Inc., renewing 7,444 square feet of space.
About KBS
KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts (REITs), and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $31.9 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.
