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| News RELEASE |
AAI Corp. Renews and Expands Symtx Lease
at Austin’s SouthPark Commerce Center
Functional Test Systems Manufacturer Ups Commitment with KBS Realty Advisors to 43,688 Sq. Ft.
Austin, TX - October 22, 2009: AAI Corporation, a global provider of aerospace and defense technologies, has renewed and expanded its headquarters lease for its Symtx subsidiary at the SouthPark Commerce Center in south Austin. The functional test systems manufacturer increased its existing 32,317-square-foot space by 35 percent to 43,688 square feet and renewed its commitment at the four-building industrial/flex office complex owned by KBS Realty Advisors of Newport Beach, Calif.
The long-term agreement was executed in August 2009. Ace Schlameus and Sam Houston at HPI Real Estate Services and Investments of Austin represented AAI Corporation in lease negotiations, while Sloan Spaeth and Zane Cole from Aquila Commercial, also of Austin, represented KBS.
Built between 1997 and 1998, SouthPark Commerce Center offers 372,763 square feet of industrial and flex office space in four reinforced-concrete, single-story buildings near the intersection of I-35/Highway 81 and Highways 29/71, five miles south of downtown Austin. AAI Corporation operates more than 621,000 square feet of manufacturing and field office facilities nationwide to support its defense industry customers. The Hunt Valley, Md.-based company employs 2,600 and had 2007 annual sales of $663 million.
A major Texas property owner, KBS-affiliated companies own or manage for investors 43 properties throughout the state containing more than 9.5 million square feet of office, industrial and flex space. Including SouthPark Commerce Center, the KBS Austin portfolio totals more than 1.1 million square feet and encompasses SouthTech Commerce Center, SouthPark II and Travis Oaks.
About KBS Realty Advisors
Founded by Peter Bren and Chuck Schreiber in 1992 as a private equity real estate company, KBS Realty Advisors is a SEC-registered investment advisor. KBS Realty Advisors and its affiliate, KBS Capital Advisors, invests in, manages and sells high-quality U.S. commercial real estate assets for institutional, corporate and private investors. Since 1992, KBS has completed transactional activity of approximately $16.5 billion via 19 separate accounts, six commingled funds and two private equity REITs. For more information, visit www.kbsrealty.com.