SOURCE: KBS Realty Advisors

KBS Realty Advisors

August 22, 2011 12:00 ET

100,000-Sq.-Ft. Lease Renewal Keeps KBS-Owned Suburban Boston Office/R&D Campus 100 Percent Occupied

Non-Traded REIT Signs Illinois Tool Works, Inc. to Long-Term Extension at 825 University Avenue in Norwood, Mass.

NORWOOD, MA--(Marketwire - Aug 22, 2011) - KBS Capital Advisors, an affiliate of KBS Realty Advisors of Newport Beach, Calif., has signed a long-term lease extension with Illinois Tool Works, Inc. for 110,194 square feet at the KBS Real Estate Investment (KBS REIT I)-owned 825 University Avenue property in the suburban Boston community of Norwood. The 166,574-square-foot, two-story office/R&D complex is 100 percent leased to Illinois Tool Works and LTX Corporation.

Mike Frisoli and JR McDonald from Cushman & Wakefield's Boston office negotiated the lease on behalf of Illinois Tool Works and Brian McKenzie, John Lashar and Rob Byrne from Richards Barry Joyce & Partners in Boston represented KBS.

Illinois Tool Works, a Fortune 200 global diversified industrial manufacturer headquartered in Glenview, Ill., has been an 825 University Avenue tenant since April 2005.

825 University Avenue is situated 20 miles southeast of Boston along Route 128, convenient to the University Park MBTA train station that services Boston and surrounding suburbs. The station also provides direct Amtrak Acela service to Hartford, New Haven, New York, Philadelphia and Washington, D.C. Developed in 1980 on an 18.8-acre parcel, 825 University Avenue is a fully renovated modern corporate research campus, which was acquired by KBS in 2006.

About KBS
KBS Capital Advisors is an affiliate of KBS Realty Advisors, which is a private equity real estate company and SEC-registered investment advisor founded by Peter Bren and Charles Schreiber, Jr. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of approximately $20 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including discussions regarding the REIT's use of proceeds and certain other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include changes in general economic conditions, changes in real estate conditions, construction delays, changes in interest rates, lease-up risks, lack of financing availability and lack of capital proceeds.

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