FLORHAM PARK, NJ-In September, KBS REIT II authored the first of two closings aimed at acquiring the more than 1.1 million-sf Park Avenue at Morris County office campus here. Now, the Newport Beach, CA-based fund has just completed its acquisition of the six-building campus with that second closing.

“KBS now fully controls all of Park Avenue at Morris,” confirms Shannon Hill, KBS senior vice president and director of acquisitions. “We’re very happy to have been able to do this deal, especially in the face of a lot of uncertainty in the credit markets. I think it’s a tribute to the KBS brand.”

Altogether, the class A campus traded for a combined $365 million, or about $325 per sf. In both phases of the transaction, KBS was represented in-house, and seller JP Morgan Chase was represented by Jeffrey Dunne, Kevin Welsh and David Gavin of CB Richard Ellis’ New York institutional group in collaboration with Samuel Buckley of CB Richard Ellis’ Saddle Brook office.

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