REBusinessOnline

KBS ACQUIRES 14-STORY OFFICE TOWER

Posted on by in Office, Texas

ADDISON, TEXAS — KBS Real Estate Investment Trust has acquired Millennium Tower, a 14-story, Class A office tower located 15455 N. Dallas Pkwy. in the Dallas suburb of Addison. Situated on 3.34 acres, the property includes the 353,461-square-foot building, as well as a six-level parking garage. The building features a café, a bank and property management offices. It is currently 87 percent leased to a tenant roster that includes Dresser Inc., SAS Institute, UnumProvident Corp., and HBO Time Warner. KBS acquired the property from San Francisco-based RREEF North America for an undisclosed price. Bill Rogalla provided in-house representation to KBS; Gary Carr and Russell Ingram of CB Richard Ellis’ Dallas office represented the seller. Kim Brooks and Matt Didyk of Transwestern Commercial Services’ Dallas office will handle leasing of the remaining space in the tower; Dallas-based PM Realty Group will manage the property.

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