KBS Growth & Income REIT, a non-traded real estate investment trust based in Newport Beach, California, announced today the acquisition of The Offices at Greenhouse, a 203,221-square-foot office building in Houston.
Currently 95 percent leased, The Offices at Greenhouse is a Class A, LEED Silver, five-story office building. Built in 2014, the property offers tenants diverse spaces accommodating open ceiling plans, complemented by a two-story marble lobby, a modern window line and a column-free floor plan. Additionally, the property offers tenants various amenities including a landscaped courtyard, a 50-person learning center with state-of-the-art AV equipment, a 10-person board room and a four-level parking garage providing ample covered parking.
Located at the western entrance of Houston’s Energy Corridor, The Offices at Greenhouse provides tenants with a highly visible and strategic location within the third largest employment center in the region. It is also easily accessible to West Houston residents as well as the growing population of Katy, Texas and surrounding neighborhoods. Located adjacent to the Katy Green retail development, the property provides tenants with access to many dining and shopping options including Chick-fil-A, Smashburger and Starbucks. Katy Green is also currently undergoing a second phase of retail expansion.
“The Offices at Greenhouse offers a true modern and functional space for its occupants,” said KBS Senior Vice President and asset manager for the property, Giovanni Cordoves. “We believe that the property’s strategic location will continue to attract companies to the growing West Houston submarket.”
“We believe that Houston, over the long run, will continue to be a very attractive and dynamic market, and we are pleased to expand our footprint here,” said Ken Robertson, KBS regional president. “The Offices at Greenhouse’s central location, newer construction and compelling suite of onsite and walkable amenities have made this a great addition to further diversify the KBS Growth & Income REIT national portfolio.”
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 $32.5 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.
