KS Partners LLC reports that 2011 was an energized year for the company. In all, KS partners completed 102 separate acquisition, lease and financing transactions.
Among the more notable deals, KS Partners acquired 33 Boston Post Rd. in Marlborough, for $8.15 million in October. Within a month, the new ownership group announced that Environmental Chemical Corp. had agreed to a lease renewal and expansion for 18,231 s/f and East Coast Cad/Cam signed on to a 4,804 s/f lease on the 6th floor at 33 Boston Post Rd. The 33 Boston Post Rd. facility contains 113,050 s/f of class A office space. Located at the intersection of Rte. 20 and I-495, the 6-story building features a fitness center, shower and locker facilities, and a full-service cafeteria.
"KS remains focused on property investment opportunities that offer strong risk-adjusted returns to our investors. Focusing efforts on functional, strategically located assets that offer strong investment returns but have good downside protection through a low cost basis is our baseline strategy," said Rick Griffin, director of investments at KS Partners.
KS Partners inked 162,000 s/f of new leases at properties in its Northeast portfolio, and renewed 260,000 s/f in leases.
The high transaction volume is especially significant given the bumpy ride the economy experienced in 2011, continuing a flat or negative trend in certain submarkets but showing some encouraging signs in others, said Chris Devaux, senior vice president of asset management for KS Partners.
"We're extremely gratified to have signed a number of new leases and to have renewed lease agreements with so many existing tenants in 2011," Devaux said. "We believe this is a testament to the heightened management focus we have on the tenant experience at our properties as well as our strong relationships with the brokerage community."
In addition to the acquisition and lease transactions, KS Partners secured refinancing deals at a number of Massachusetts properties in its portfolio, including:
* 115-117 Flanders Rd., Westborough
* 2200 West Park Dr., Westborough
* 225 Friend St., Boston
* 85 Devonshire St., Boston
* Porter Sq. Galleria, Cambridge
* Dedham Executive Center, Dedham
* 47 Manning Rd., Billerica
* 130 New Boston St., Woburn
"There will certainly be challenges in the commercial real estate market in 2012," Devaux said. "However, the strong performance of KS Partners' assets in 2011 gives us confidence that another successful year is on the horizon."
About KS Partners LLC:
KS Partners LLC is a commercial real estate owner and property management company that owns and manages income-producing real estate assets in the Northeast. The KS Partners portfolio strives for value appreciation through the capitalization of improved leasing, repositioning or redevelopment opportunities.