Newmark Grubb Knight Frank (NGKF) has signed a new lease with KBS Real Estate Investment Trust (KBS REIT I), a non-traded real estate investment trust based in Newport Beach, Calif., expanding its presence to 13,369 square feet at Tysons Dulles Plaza in McLean, Va.
The 487,775-square-foot, three-building complex located in the Tysons Corner submarket of Northern Virginia offers convenient access to locations in the D.C. region with direct access from the Dulles Access Road. Immediate connections to several major arteries include I-495 (Capital Beltway) and its HOT Lanes, I-66, Route 123, and the Dulles Toll Road, and the new Spring Hill Silver Line Metro station.
“Beyond its proximity to major highways and airports, Tysons Dulles Plaza tenants benefit from upgraded onsite amenities and numerous nearby amenities,” said KBS Senior Vice President Stephen Close. “We’re excited to welcome Newmark Grubb Knight Frank as a tenant and as our leasing representative for this property.”
“This move is the next phase of NGKF’s continued growth and development in the Northern Virginia market,” said Brendan Owen, NGKF chairman of assets services in the Washington, D.C., metropolitan area. “By upgrading and expanding our office, we will be able to draw more of the best-in-class talent to cement our firm as the premier services company in the region.”
With newly renovated lobbies and common areas, Tysons Dulles Plaza has ample amenities that include a private Mercedes Sprinter shuttle to the metro, on-site fitness studio, conference center, and café, as well as balconies for tenants on floors three through six. The property offers free surface and covered parking in a renovated landscaped park setting with an executive putting green and tenant plaza complete with complimentary wi-fi, all to enhance the tenant experience.
NGKF’s Stephen Hoffeditz, Edwin Clark III and Wes Evans represented KBS REIT I, and NGKF’s Junius Tillery, Chet Rao and Brian Liss represented NGKF in the transaction.
KBS Capital Advisors is KBS REIT I’s external advisor and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded by Peter Bren and Charles J. Schreiber in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $30 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs. For information, visit www.kbs.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, including KBS REIT I’s ability to invest in and manage a diverse portfolio, the performance of Tysons Dulles Plaza and the performance of the McLean real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT I’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.