HOUSTON—KBS Strategic Opportunity REIT has completed 48,953 square-feet of lease renewals at its West Loop I & II, a 313,873-square-foot office complex located in Houston’s Bellaire submarket.
Synergy Healthcare signed a 29,704-square-foot lease renewal at West Loop I & II, while BBC U.S.A. Chartering signed a 16,751-square-foot renewal and Contemporary Medicine signed two renewals totaling 2,498 square-feet there.
John Spafford and Allie Hubbard of PMRG represented KBS Strategic Opportunity REIT in the Synergy transaction and Brandon Clarke and Collin Grimes of CB Richard Ellis represented Synergy Healthcare. David Baker and Kelli Crutchfield of Transwestern represented KBS Strategic Opportunity REIT in the BBC renewal, and Joshua Brown of Jackson Cooksey represented BBC U.S.A. Chartering.
West Loop I & II is located just 2 miles south of the Galleria and 3 miles west of Houston’s Central Business District in Houston’s Bellaire submarket. The 5.6-acre property includes two buildings and a parking garage.
“We believe West Loop I & II is a property that benefits from a great in-fill location,” said David Moore, KBS Capital Advisors managing director. “Along with being near quality residential communities such as Bellaire and West University, this submarket also is a commuter-friendly alternative to the Galleria submarket, which is just five minutes north of West Loop I & II.”
KBS Strategic Opportunity REIT also owns the newly renovated 1800 West Loop South at San Felipe, a 400,101 SF office building. KBS-affiliated companies own two other properties in Houston: Clay Crossing, a 222,750-square-foot office/warehouse complex and Ten West Corporate Center, a 199,001-square-foot office building in Houston
KBS Strategic Opportunity REIT is a public non-traded real estate investment trust based in Newport Beach, CA. KBS Capital Advisors is the external adviser and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992.