News RELEASE

KBS Acquires One Research Drive in Westborough

Westborough, MA -- October 28, 2005: KBS Realty Advisors (www.kbsrealty.com), one of the nation’s leading buyers of commercial real estate, announced it recently acquired One Research Drive, a 283,797 sq. ft. office property located in Westborough, MA. The four-story property was sold to KBS on October 25, by Berkeley Investments, Inc. (www.berkinv.com) for a gross sale price of $55.5 million. Cushman & Wakefield’s Capital Markets Group of Robert E. Griffin, Edward C. Maher, Jr. and Marci Griffith Loeber handled the negotiations between the two parties.  

Located at the juncture of I-495 and Route 9 in Westborough, MA, One Research Drive is one of the most recognizable buildings in suburban Boston due to its visibility from Route 9.  Soon after its completion in 1981, the property was named "Building of the Year" by the Industrial Development Research Council.  The property is located 30 miles west of Boston and 12 miles east of Worcester.  One Research was originally developed by Hines Industrial as a build-to-suit for GTE.  Today the property is approximately 88% leased to 11 tenants, the largest of which are EMC Corp. (78,050 sq. ft.), Informa USA, Inc. (33,004 sq. ft.) and Staples (31,609 sq. ft.).

"We are extremely pleased to be able to acquire one of the best office assets in the recovering I-495 West submarket" commented KBS Senior Vice President, Shannon W. Hill.  "This was a very smooth transaction thanks in large part to the folks at Berkeley and C&W.”

Headquartered in Newport Beach, CA, KBS Realty Advisors (www.kbsrealty.com) is a premier real estate investment firm that has invested over $5.4 billion since the company’s inception in 1992. KBS was founded and is operated by Peter Bren, President and Chairman and Charles J. Schreiber, Jr., CEO. KBS has offices in Newport Beach, San Francisco, Chicago, Boston, New York and Washington, DC.