HERNDON, VA-KBS Realty Advisors, which last acquired a building in the area close to a year ago, has purchased an office here for $66 million. Located at 2303 Dulles Station Blvd., the 186,734-square-foot building is 88% leased, with the major tenant arriving in phases over the course of 2010, Stephen Evans, senior vice president and director of acquisitions for the Mid-Atlantic region for KBS Realty Advisors, tells GlobeSt.com. 

That, plus its location, makes the building distinct from other assets in the Herndon submarket, which has seen more than its fair share of slow leasing and investment sales. The building “is literally at the pedestrian touch down point for the future metro stop here.” Called Dulles Station East I, the building is located within a 63-acre, mixed-use complex that will eventually have about 1.5 million square feet of office, and 80,000 square feet of retail and a residential component. 

Evans says the company is interested in acquiring additional assets in the DC-area submarkets. “The demand drivers are stronger here than in other markets in the country.” The last purchase the company made in the area was last summer, when KBS REIT II acquired the 570,038-square-foot Willow Oaks Corporate Center for $112 million or $196.78 per square foot. Other properties the company owns in Virginia include Tysons Dulles Plaza in McLean; 1945 Old Gallows Rd. in Vienna; and Redwood Plaza in Fairfax.