News RELEASE


InTuition Development takes 12,593 SF at Baywood Center


Jacksonville, FL -- May 26, 2004:
On May 17, 2004, InTuition Development Holdings, LLC, signed a new lease for 12,593 sq. ft. at Baywood Center in Jacksonville, FL. Baywood Center is a 114,881 sq. ft. three-building office complex owned and operated by investment advisory firm, KBS Realty Advisors (www.kbsrealty.com). The center is located on Baymeadows Road in Jacksonville's Southside Market. InTuition will be taking two suites in the property's Baywood III building.

InTuition Development Holdings, LLC (www.intuitioncorp.com) provides the only full-service records administration and customer service solution for 529 Prepaid and Savings programs; provides paper and electronic remittance processing for the lockbox processing industry; and provides software solutions for state agencies. The company has three offices and 150 employees and supports over 100 clients, including Fortune 500 companies.

"We are excited that InTuition has selected Baywood Center to locate a portion of their offices," commented Peter Potrykus, Senior Vice President of KBS Realty Advisors. "We look forward to continuing to meet their requirements for quality office space long into the future."

Potrykus added that KBS was pleased with the fine job of Oliver Barakat and Lou Nutter of CB Richard Ellis (www.cbre.com), who represented KBS in the transaction; as well as Todd Brandon of Equis Corp. (www.equiscorp.com), who represented InTuition.

Headquartered in Newport Beach, CA, KBS Realty Advisors is a premier investment management firm specializing in real estate investments on behalf of select private and public pension fund, endowment and foundation partners. Founded in 1992, KBS has invested approximately $5 billion on behalf of its clients. KBS specializes in purchasing and repositioning under-performing real estate and real-estate related assets in the United States.

 



CONTACT:
Phillip Diment
Communications Manager
Tel: 949.417.6532
pdiment@kbsrealty.com