HOUSTON–KBS Realty Advisors has purchased 1800 Bering. Fuller Realty Partners sold the 171,510-square-foot office building to the Newport Beach, CA-based company for an undisclosed sum.
“In 1800 Bering, KBS saw an opportunity to invest in a great niche market known for its rich amenities and adjacency to some fantastic neighborhoods, which provides great quality of life for its tenants,” says KBS Central Regional President Ken Robertson.
The 10-story property, located within the San Filipe/Voss submarket, is 94.5% occupied. Alamo Title and Link Staffing Services are two of the larger tenants. The building is a class B-plus asset and includes an on-site café as well as covered access to a parking garage.
KBS Realty Advisors has plans in place to update the building, making it more competitive in the surrounding market.
“We believe 1800 Bering will continue to thrive in this submarket with the numerous renovations we have planned that will elevate its status to a boutique class A property,” Robertson says.
JLL’s Ruby Hubbard and Kevin McConn represented Fuller Realty Partners.
This is not KBS’s first purchase in the Houston area. The company also owns the 400,101-square-foot 1800 West Loop South, the 434,843-square-foot Two WestLake Park, the 199,001-square-foot Ten West Corporate Center and the 313,873-square-foot office complex West Loop I and II.