"Boston is on strong footing," KS founder Kambiz Shahbazi tellsGlobeSt.com in explaining his continued interest in regional realestate. "I'm very encouraged by what I see on the leasingfront."

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Shahbazi has been assembling the portfolio of approximately twomillion sf since 1997. Creation of KS Partners included shiftingmany of the holdings from the erstwhile Everest Partners LLC, andsince the launch of KS Partners, Shahbazi secured additional assetsin 2007, including a 10-building complex acquired on the SouthShore from owner Thomas Flatley. KS Partners is now working toreposition those buildings and the other properties that fit thefirm's value-add approach.

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The New Boston Street building is a three-story structuredeveloped in a gritty industrial section. The 18-year-old asset hasunique architectural features that Shahbazi predicts will helpattract prospective tenants, adding he believes he was able toacquire the property at a low enough basis to be competitive onrental rates. "We think there is quite a bit of upside," saysShahbazi, whose firm took control of the asset at 55% occupancy.Already, one tenant has committed to 4,500 sf and there are severalparties vying for the 19,000 sf available on 130 New Boston St.'stop floor, Shahbazi reports.

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KS Partners snagged 47 Manning Rd. for less than $45 per sf, andShahbazi says there has also been immediate leasing action at that45,000-sf building, with a 10,000-sf tenant already on board. KShas retained the Stubblebine Co. as leasing agents for thatproperty and NAI Hunneman Commercial to fill 130 New Boston St.

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On the disposition end, Shahbazi says the sale of 25 and 45South St. was an off-market deal prompted by an unprovoked suitor,Parsons Commercial Group of Framingham. "We're very happy with thattransaction," says Shahbazi, who purchased the buildings in 2003 aspart of a four-building portfolio. The other two assets, 257 and259 Cedar Hill St. in Marlborough, are still owned by KS Partners.Totaling nearly 120,000 sf, the space in 25 and 45 South St. isabout 30% vacant, a factor which Shahbazi says should allow Parsonsto draw its own measure of value in the improving MetroWestflex/office market.

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