Through a joint venture, KBS Strategic Opportunity REIT II acquired a 90% equity interest in Madison Square (previously 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, Madison Square has three office buildings ranging from two to six stories that were built between 2003 and 2008, and a historic 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.
