News RELEASE

KBS Realty Advisors Acquires Crossroads Distribution Center in Charlotte, N.C., for $26 Million

Charlotte, NC - March 31, 2008: KBS Realty Advisors, one of the nation’s leading commercial real estate investment advisors, announced it has acquired Crossroads Distribution Center in Charlotte, N.C. The property consists of four concrete, tilt-wall warehouse buildings totaling 496,347 square feet and is situated in southwest Charlotte near the I-77/Westinghouse Road interchange, on one of the region’s top industrial corridors.

KBS represented itself in the purchase. Frank Fallon and Chris Riley of CBRE represented the seller in the transaction which closed March 28, 2008, for $26,058,308.

The class-A project complex is currently 70 percent leased to eight tenants, among them Europa Sports Products, Walker & Zanger, Residential Construction and Stark Carpets. Buildings I, II and III, completed between 1998 and 2000, are 100 percent leased. The 151,824-square-foot Building IV was delivered in November 2007 and is currently available for lease.

“We’ve been searching for the first KBS property in the fast-growing Charlotte area for some time and are delighted to have found Crossroads Distribution Center,” explained KBS Senior Vice President, Robin Burke. “The property’s excellent I-77 access and visibility have proven especially attractive to tenants looking to combine a high-profile retail/showroom presence with convenient distribution operations that can service customers along the entire I-77 industrial corridor. From a design standpoint, Crossroads offers such competitive advantages as ceiling clear heights from 24 to 30 feet, truck courts from 110 to 140 feet, and 50-foot concrete aprons.”

About KBS Realty Advisors
Founded by Peter Bren and Chuck Schreiber in 1992 as a private equity real estate company, KBS Realty Advisors is a SEC-registered investment advisor. KBS Realty Advisors and its affiliate, KBS Capital Advisors, invests in, manages and sells high-quality U.S. commercial real estate assets for institutional, corporate and private investors. Since 1992, KBS has completed transactional activity of approximately $14 billion via 18 separate accounts, six commingled funds and a private equity REIT. For more information, visit www.kbsrealty.com.