KBS Takes 2 in Austin

By Anca Gagiuc

Stonebridge Plaza I & II, Asutin, Texas

Austin, Texas—Newport Beach-based KBS Realty Advisors has acquired Stonebridge Plaza I & II, two Class A office towers located at 9600 and 9606 North MoPac Expressway in Austin. The nine-story buildings total 386,101 rentable square feet.

“We believe that Stonebridge Plaza I & II will be a strong addition to KBS’ portfolio,” said Gio Cordoves, senior vice president at KBS and asset manager for the property, in a statement. “Austin has been named one of the fastest growing cities in the U.S. and offers lower business and living costs which complement a young, well-educated population, creating an ideal business location and quality of life for residents and employees.”

The two-building property sits at the intersections of Highway 183, Highway 360 and the MoPac Expressway, providing easy access to Austin’s northwest suburbs, the metro’s central business district and nearby executive housing. Tenants are also in close proximity to The Domain and The Arboretum at Great Hills.

Stonebridge Plaza I & II has a 4/1,000 parking ratio with a seven-story garage connecting the two LEED-certified office buildings. At the time of the deal, the property was 96 percent leased. Current tenants onclude Qualcomm, Google and Oracle.

Image courtesy of KBS