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3/19/08
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March 19, 2008 – KBS Decides to Go Evergreen
Advisory firm acquires 172k sf industrial park outside of Portland
KBS Realty Advisors recently closed on a sizable Oregon buy, having acquired Evergreen Park, a 172.2k sf light industrial park in Hillsboro, a community situated roughly 18 miles west of Portland. Built in 1997, the property covers a total of 10.56 acres at 11965, 22975, 22985 and 22995 NW Evergreen Pkwy, south of Hwy 26 and west of Cornelius Pass Rd in the Sunset Corridor/Hillsboro submarket. The Class A project includes four one-story facilities and is currently 83 percent leased to seven tenants.
According to KBS Realty Advisors Acquisition Director Peter Mette, “Evergreen Park is an attractive acquisition because of its successful track record and the fact that it provides many features that competitive properties in the submarket do not, such as 20’ clear height and dock and grade level doors.”
Founded by Peter Bren and Chuck Schreiber in 1992 as a private equity real estate company, KBS Realty Advisors is a SEC-registered real estate investment advisor that, along with 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 $13 bil via 16 separate accounts, six commingled funds and a private equity REIT.
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