The Central Valley Business Times is reporting KBS Real Estate Investment Trust of Sacramento has paid $20.6 million to purchase two South Natomas buildings:
The buildings total just over 105,000 square feet of office and amenity space, KBS says.
The largest of the structures is a five-story office building at 2450 Venture Oaks Way. KBS says it has more than 101,000 square feet of Class A office space. The other building is a 3,700-square foot structure that currently houses a fitness center and a deli.
The five-story office building is fully leased, KBS says.
MarketWatch.Com is also reporting the sale. The property’s primary tenant, occupying 87% of the building, is the State Compensation Insurance Fund.
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