NEWPORT BEACH, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/PhotooftheDay?src=hash” target=”_blank”gt;#PhotooftheDaylt;/agt;–KBS,
one of the largest owners of commercial real estate, announced today the
signing of 21,927 square feet in leases at One Washingtonian Center in
Gaithersburg, Maryland. RSM US, LLP, a leading provider of audit, tax
and consulting services focused on the middle market, and ManpowerGroup,
a leader in innovative workforce solutions, both signed new leases. The
property is part of KBS Real Estate Investment Trust III, a non-traded
real estate investment trust.

In 2018, Gaithersburg was named one of the 5
Most Affordable Cities in Maryland by Livability.com and is home to
major employers such as IBM, Lockheed Martin and Sodexo, which is
headquartered in One Washingtonian Center. The building is a 14-story
multi-tenant Class A office building within the exclusive RIO
Washingtonian Center, which includes restaurants, shops, hotels and
offices overlooking a picturesque lakefront.

The building contains 314,175 rentable square feet and has earned the
coveted LEED-EB Platinum certification. The property is approximately 30
minutes northwest from downtown Washington, D.C., and provides superior
access to major highways and the Inter-County Connector, Maryland’s
“outer beltway.” KBS is currently modernizing several areas in the
property to make it a best-in-class experience.

“One Washingtonian Center offers its tenants countless opportunities for
entertainment and shopping thanks to its access to the RIO shopping
center next door, which is currently undergoing a $30 million
renovation,” said Stephen Close, senior vice president of acquisitions
for KBS and asset manager of the property. “We see the appreciation that
current tenants have for a location like this, and it’s a great fit for
world-class companies such as RSM US, LLP and ManpowerGroup.”

According the CBRE’s Q1
2019 Suburban Maryland Office Market View, the Maryland market is
growing. Investment sales activity was up 39 percent from the previous
quarter and nine of the quarter’s top 10 office transactions took place
in Montgomery County.

“One Washingtonian Center was 93 percent leased when we first acquired
the building, and interest continues to grow in the property and
surrounding areas,” said Marc DeLuca, regional president, Eastern United
States for KBS. “We have signed several leases with growing technology
tenants that are quickly changing the dynamics of the community.”

According to the Montgomery
County Trends Report, the office market in Montgomery County has
experienced steady growth over the past 24 years, with the lion’s share
of that growth, nearly 90 percent, consisting of Class A office space
with consistently positive net absorption rates.

“Location plays a pivotal role and One Washingtonian Center is
considered one of the most prominent buildings within the 212-acre
Washingtonian Center,” said David Machlin, senior vice president of
CBRE, who brokered the deals for KBS. “Smart, creative and growing
companies are moving to this area. It’s a great choice for D.C. tenants
who are looking to escape the capital city’s higher prices.”

Please find photos of One Washingtonian Center here.

Richard Schuham and Steve London of Savills represented RSM US, LLP;
Darin Cox and Ben Powell of Cushman & Wakefield represented
ManpowerGroup.

This release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements relating to KBS REIT III’s ability to invest in and
manage a diverse portfolio, and the performance of One Washingtonian
Center and of the Gaithersburg real estate market. These statements are
subject to known and unknown risks, uncertainties and other factors
which may cause KBS REIT III’s and/or One Washingtonian Center’s actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements.

About KBS

KBS
is a private equity real estate company and an SEC-registered investment
adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is
recognized as one of the largest commercial office owners globally.
Since inception, KBS-affiliated companies have completed transactional
activity of approximately $40 billion via 16 separate accounts and six
commingled funds, for government and corporate pension funds.
Additionally, KBS has sponsored five sovereign wealth funds and seven
SEC-registered, non-traded REITs. For more information on KBS, its
properties and real estate portfolios, please visit KBS.com. For
information about KBS’ current offerings, please visit KBSDIRECT.com, an
online portal for self-directed accredited investors to participate in
institutional-quality real estate without paying up-front fees or
commissions. Registration as an investment adviser does not imply any
particular level of skill or training.

About ManpowerGroup

ManpowerGroup® (NYSE: MAN), the leading global workforce solutions
company, helps organizations transform in a fast-changing world of work
by sourcing, assessing, developing and managing the talent that enables
them to win. We develop innovative solutions for hundreds of thousands
of organizations every year, providing them with skilled talent while
finding meaningful, sustainable employment for millions of people across
a wide range of industries and skills. Our expert family of brands –
Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions –
creates substantially more value for candidates and clients across 80
countries and territories and has done so for over 70 years. In 2019,
ManpowerGroup was named one of Fortune’s Most Admired Companies for the
seventeenth year and one of the World’s Most Ethical Companies for the
tenth year, confirming our position as the most trusted brand in the
industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com.

Contacts

Media Contact:
Ginny Walker
Public
Relations Manager
949-417-6535
[email protected]