KBS REIT I signs two renewals in McLean
KBS Real Estate Investment Trust, a non-traded real estate investment trust based in Newport Beach, Calif., signed 18,609 square feet in lease renewals at its Tysons Dulles Plaza I, II & III (TDP), a 487,775-square-foot complex in McLean.
Jefferson Apartment Group signed a lease for 7,839 square feet while Kaiser Scherer & Schlegel signed a 10,770-square-foot lease renewal.
Located on Spring Hill Road, Tysons Dulles Plaza I, II & III consists of three, six-story Class-A office buildings in one of Northern Virginia’s largest submarkets.
“We believe that the on-going renovations of TDP and its central location in Tysons Corner with some of northern Virginia’s most traveled infrastructure make it a prime property … ” said KBS Capital Advisors Regional President Marc DeLuca in a statement. “And with the impending arrival of Metro, leasing at these types of Class-A office assets continues to increase.”
Steve Hoffeditz and Ed Clark of Newmark Grubb Knight Frank and Malcom Schweiker of CBRE represented KBS in both leases. Jones Lang LaSalle’s Steven T. Ranck represented Jefferson Apartment Group and Jon Olsen of Lincoln Property Co. represented Kaiser Scherer & Schlegel.