MAITLAND, FL—KBS Strategic Opportunity REIT,which is based in Newport, CA, reports it has inked three new leasetransactions at its Maitland PromenadeII office building here totaling nearly 34,000 squarefeet.


The new lease deals bring the occupancy of the230,366-square-foot office building, which KBS acquired in December2013 to 92% occupancy. The property was 77% occupied at the time ofits purchase.


The latest lease transactions at Maitland Promenade II include anew 20,113-square-foot lease with Taylor Morrison HomeFunding; an 8,526-square-foot expansion byCentene; and a 5,062-square-foot expansion byNew York Life.


“We believe Maitland Promenade II is one of a handful of assetsthat tenants consider in Maitland when looking for office spacebecause of its efficient floor plates and covered parking,” saysKBS Capital Advisors Senior Vice President JeffRader. “We anticipate future growth of tenants will leadto further leasing activity in our building and similar assets inMaitland.”


Flagler Real Estate Services VicePresident Scott Bell and PhilMarchese, director ofleasing for Flagler Real Estate Services, represented KBS StrategicOpportunity REIT in the three lease transactions. SteveCoughlin of Coughlin Commercialrepresented Taylor Morrison Home Funding, while ScottBazoian with Cassidy Turley representedCentene, and Dave Chapin of Jones LangLaSalle brokered the deal for New York Life. The buildingis managed by Flagler Real Estate Services.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.