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KBS Realty sells $139M Texas office complex

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KBS Realty sells $139M Texas office complex

KBS Realty Advisors LLC sold the Stonebridge Plaza I & II office complex at 9600 and 9606 North MoPac Expressway in Austin, Texas, to investment adviser Intercontinental Real Estate Corp., the Austin Business Journal reported.

The seller did not disclose the sale price of the 388,024-square-foot property sitting on 5.1 acres, but the site is appraised at $138.9 million, according to the Sept. 5 report, which cited Travis Central Appraisal District.

According to the publication, KBS purchased the complex in 2016 for $124 million from Heitman Capital Management LLC.