Newport Beach, CA-based KBS bought the nine-acre property fromING Clarion Realty Services LLC of New York City. Situated at 1600and 1650 Texas 6 South, the seven-year-old, two-building complexstands at 85% occupancy. Its largest tenant is Noble DrillingServices Inc. The complex has an aggregate base rent of nearly $3million, according to the SEC filing.

"There are no real near-term major rolls," says RobertWilliamson, managing director with Holliday Fenoglio Fowler LP'sHouston office. "This has an evenly dispersed expiration schedule,which gave KBS additional comfort in the property." He and HFFmanaging director Jeffrey Hollinden represented the seller.

Bill Rogalla, KBS' senior vice president and acquisitionsdirector for the Central US, tells GlobeSt.com that his company hadbeen eyeing Fort Bend County for some time. He says KBS has aboutfour million sf in the Houston metro, but Sugar Land represents asmall component of that collection. "We've been watching the areafor awhile," he adds. "The opportunity presented itself and it wasattractive. The location was appealing." Local firm, PM RealtyGroup, will stay in place to lease the asset as it does the rest ofKBS' local portfolio.