KBS REIT grows Dallas portfolio

KBS Real Estate Investment Trust has purchased Plano Corporate Center I & II, a two-building, 308,038-square-foot office complex in Plano, Texas, for an undisclosed price.

Lincoln Property Co. sold the buildings, which are located at 2201 and 2301 West Plano Parkway just north of Dallas.

Plano Corporate Center I, at 2201 West Plano Parkway, is a 153,349-square-foot, three-story office building, built in 1999. Plano Corporate Center II, at 2301 West Plano Parkway, is a 154,689-square-foot, three-story office building, built in 2001. The buildings, which are each situated on 10-acre sites, house major tenants such as FedEx Kinko's and UnitedHealthcare.

At the time of sale, the two-building complex was 87 percent leased.

With the acquisition of Plano Corporate Center I & II, the KBS REIT portfolio totals 439,078 square feet. In early August, KBS REIT acquired the 131,040-square-foot Corporate Express in nearby Arlington.

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