KBS REIT III Signs Nearly 22,000 SQF in Leases at Ten Almaden in San Jose California

SAN JOSE, Calif. (May 11, 2018) – KBS Real Estate Investment Trust III (“KBS REIT III”), a non-traded real estate investment trust based in Newport Beach, California, announced today the signing of a new lease at Ten Almaden in San Jose, California. BPM, LLC, an accounting and consulting firm, signed a new lease for 21,924 square feet.

Ten Almaden is a 17-story, Class A, Energy Star awarded office building, with 309,255 rentable square feet. On-site amenities include a conference center, tenant lounge, a fitness center and an outdoor terrace complete with a fire pit and grill. The property also offers tenants a four-level parking garage, EV car charging stations, dry cleaning services, freight elevators and loading docks, among other amenities.

The building’s prime location offers tenants unobstructed panoramic views of downtown San Jose and easy access to public transportation, such as a train station and the San Jose International Airport. Additionally, Ten Almaden’s supreme location offers walkable amenities such as more than 100 restaurants, coffee shops and bars, including a Brazilian steak house, an Irish pub and a sushi bar.

“We are happy to add a new tenant to our impressive roster in Downtown San Jose,” said Brent Carroll, senior vice president at KBS and asset manager for the properties. “We believe BPM will be fully-supported for optimal success in their new location at Ten Almaden.”

Tom Hogan and Nick Lazzarini of Cushman & Wakefield represented BPM, LLC while Erik Hallgrimson, Todd Beatty and Bob Simpson of Cushman & Wakefield represented KBS REIT III in the transaction.

About KBS
KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts (REITs), and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $37 billion via 16 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.

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