KBS Realty expands in Texas

Buys mid-rise office building

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KBS Realty Advisors purchased Fountainhead One, a 174,108-square-foot, class A office building in San Antonio, Texas. Purchased for $23.6 million, the 10-story property is located at 8200 IH-10 West. Built in 1985 and refurbished with a new roof and penthouse in 2003, the property also includes an adjacent five-level parking garage connected to the office building via a second-floor covered walkway. American Realty Advisors sold the property, which was 95 percent occupied at the time of sale by major tenants that included New Horizons Computer Learning Centers, The University of Phoenix, and Health Care Service Corp. (Blue Cross/Blue Shield). KBS Realty owns and operates a 7.5 million-square-foot portfolio in Texas. ...