KBS REIT makes $33M purchase

Class A office building part of huge business park
Published on Jun 25, 2007

KBS Real Estate Investment Trust has acquired Royal Ridge in the Atlanta North Fulton submarket community of Alpharetta, Ga., for $33 million. The six-story, 160,539-square-foot building sits on a 13.2-acre site and was 96 percent leased at the time of sale, primarily by two credit tenants -- Virginia Surety and Hagemeyer North America. FSP Royal Ridge Corp. sold the property, which was built in 2001. ...