KBS signs agreements totaling 18,552 square feet
with Marcus & Millichap, White Rock Oil and Gas, and Investment Talk Advisors
KBS Inks Three New Leases at Providence Towers in Dallas
Dallas - Sept. 12, 2012: – KBS Realty Advisors of Newport Beach, Calif., has finalized three new, long-term leases totaling 18,552 square feet at its iconic, 515,732-square-foot Providence Towers,12 miles north of downtown Dallas. KBS acquired the property in 2009.
Encino, Calif.-based Marcus & Millichap, one of the nation's largest commercial real estate brokerage firms, signed a new lease to relocate its Dallas office from Centura Tower to a 10,205-square-foot space on the first floor of the Providence West Tower. Chris Sido of Swearingen Realty Group, LLC in Dallas and Scott Flanagin of Warren Wixen – Real Estate Services in Los Angeles represented the tenant in lease discussions.
White Rock Oil and Gas, a company specializing in oil and gas investments, will establish its first location in a 5,780-square-foot suite in the Providence East Tower. Sandy Matejek of Jones Lang LaSalle's Dallas office negotiated the lease on behalf of White Rock Oil and Gas.
Investment Talk Advisors will open a new 2,567-square-foot office on the second floor of the West Tower. Investment Talk Advisors, a financial and investment planner, represented itself in the transaction.
Kim Brooks, Justin Miller and Scott Walker from Transwestern in Dallas negotiated the three leases on behalf of KBS. Providence Towers is a newly remodeled 12-story building situated on the North Dallas Tollway, close to Interstate 635 and U.S. 190 and 75. Constructed in 1986 and renovated in 2012, the property features a red granite façade and a nine-story Neapolitan arch that divides the building into two towers.
KBS-affiliated companies own 15 assets in the Dallas-Fort Worth Metroplex totaling more than 4.6 million square feet of commercial space. This includes 2525 McKinnon, a 109,810-square-foot office property in Dallas, the 353,461-square-foot Millennium Tower in Addison, International Plaza Tower III, a 351,872-square-foot Class A office building in Dallas, and the three-building, 522,043-square-foot Town Center Office Park in Plano.
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of more than $25.0 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbsrealty.com.
Cindy Tullues or Bob Ochsner
DGWB for KBS Companies