Grace Court, Phoenix, Arizona
Through a joint venture, KBS Strategic Opportunity REIT II acquired a 90% equity interest in Grace Court, a Class A business park consisting of four buildings and a five level parking garage in the Phoenix central business district (CBD).
With a total of 310,886 rentable square feet, Grace Court has three office buildings ranging from two to six stories that were built between 2003 and 2008, and a historical school house built in 1911 and fully renovated in 2006.
Grace Court has been awarded the Energy Star label for its superior energy efficiency and best practices management.
Investment at a Glance
Location: Phoenix, AZ
Acquisition Date: October 3, 2017
Purchase Price: $33,300,000
Year Built: 2003, 2007, 2008, 1911/2006
Square Footage: 310,886 SF
No. of Buildings: 4