ADP PLAZA TRADES HANDS FOR $33.1 MILLION

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PORTLAND, ORE. — KBS REIT has acquired ADP Plaza, a two-building office campus located at the intersection of First Avenue and Sheridan Street in downtown Portland, for $33.1 million. The two four-story buildings offer a total of 180,772 square feet and feature a 117,614-square-foot parking garage. Built in 1981, the property is 91 percent occupied by two tenants. Automatic Data Processing (ADP), for which the plaza is named, occupies 115,180 square feet, and Oregon Health and Science University occupies 48,506 square feet.

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