KBS Signs New Leasing Agreements with National, Regional and Local Tenants at 427,799 Square-Foot Office Property in Dallas, Texas
KBS Signs New Leasing Agreements with National, Regional and Local Tenants at 427,799 Square-Foot Office Property in Dallas, Texas
Abstract
DALLAS, TX. - KBS, one of the largest investors in commercial real estate, has signed three new lease agreements totaling 24,568 square feet with national, regional and local tenants at Preston Commons, a 427,799 square-foot, Class A office park in Dallas, Texas. Preston Commons is owned by KBS Real Estate Investment Trust III. KBS has signed a 16,403 square-foot lease agreement with national multifamily investment firm RPM Living, a 5,856 square-foot lease agreement with a regional financial institution and a 2,309 square-foot lease agreement with Dallas-based private investment firm Scalar Gauge Fund. The new lease agreements at Preston Commons are indicative of the way that the Dallas office market has continued to lead the country in returning to the office, notes Cordoves. "The signing of these leases at Preston Commons is a testament to this, as well as to the enduring appeal of top-tier office space in the best locations in the country." Preston Commons is a three-building office park located in the heart of the prestigious Preston Center submarket. With convenient access to the Dallas North Tollway and US 75, Preston Commons is ideally situated amongst major business hubs, including the Dallas Central Business District and the growing Plano and Frisco corridors. "Preston Commons provides all the key amenities top office users are seeking in the Dallas market," says Brett Merz, asset manager for Preston Commons and senior vice president at KBS. "Also, the asset is located in a high-demand, posh area that provides elegant dining experiences and easy access to entertainment and high-end retail." Due to its high-end location, Preston Commons is the preferred destination for Dallas/Fort Worth's business elite, Merz adds. "Tenants are drawn to Preston Commons for its prime location within the Dallas/Fort Worth area, along with KBS' dedication to the tenant experience," says Cullins.
