KBS REIT makes $33M purchase

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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. ...