KBS REIT completes Sugar Land deal

Big-name tenants occupy project

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KBS Real Estate Investment Trust acquired the Offices at Kensington, a 170,436-square-foot commercial project in Sugar Land, Texas, for an undisclosed amount. ING Clarion sold the facility, which comprises two four-story buildings on a 9.5-acre site. At the time of sale, the property was 85 percent leased to 35 tenants. The largest tenant at the Offices at Kensington is Noble Drilling, an oil and gas exploration firm. Additional tenants include automobile insurer Progressive Insurance; Morgan Stanley, a diversified financial services provider; Fidelity National Title, a provider of title/escrow services; and Humana, one of the largest publicly traded health benefit companies in the United States. ...