West Coast Real Estate Investment Trust Has Also Inked Commitments That Now Cover 80% of New Office Space at Its Columbia Square Development in Hollywood

Kilroy Realty Corporation (NYSE: KRC) announced today that it stabilized two San Francisco office development projects totaling 641,000 square feet and signed letters of intent for an additional 83,000 square feet at its mixed-used Columbia Square development in Hollywood that increased the committed portion of the project’s office space to 80%.

The two San Francisco properties include 350 Mission Street, a 30-story glass and concrete office tower leased to salesforce.com, inc. located immediately across from the city’s new Transbay Transit Center, and 333 Brannan Street, a six-story brick and concrete building leased to Dropbox, Inc. located in the eastern end of the SOMA district. The two properties have been in development since 2012 and 2013, respectively, with 350 Mission Street being the first high-rise LEED Platinum ground-up development constructed in San Francisco. The aggregate investment for 350 Mission Street and 333 Brannan Street is approximately $381 million.

KRC’s Columbia Square project is a $461 million mixed-use, LEED Gold development in the heart of Hollywood that encompasses three phases totaling 685,000 square feet of office, retail and residential space along with a five-level subterranean parking structure. Phase 1 consists of the redevelopment of the original William Lescaze-designed radio and business buildings encompassing 110,000 square feet, which was built in 1938 as the first West Coast home of the Columbia Broadcasting System. The two buildings are fully occupied by NeueHouse, a private workspace collective, and were stabilized in 2015. Phases 2 and 3 consist of 370,000 square feet of newly developed office space and a residential tower consisting of 200 furnished and unfurnished units.

KRC completed Phase 2, the newly constructed office space, during the first quarter and executed leases in 2014 and 2015 with Viacom and Fender Music to take just under 215,000 square feet of space with occupancy projected for later this year. During the first quarter of 2016, the company signed letters of intent covering an additional 83,000 square feet of office space, increasing to 85% the commercial office portion of the project now leased or committed.

“For several years now, West Coast commercial real estate markets have been among the strongest performers in the nation,” said John Kilroy, KRC’s chairman, president and chief executive officer, “and our recent experience suggests that well-located, high quality contemporary office space remains in high demand.”

About Kilroy Realty Corporation. With almost 70 years’ experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.

At March 31, 2016, the company’s stabilized portfolio totaled 13.7 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego. The company is recognized by GRESB as the North American leader in sustainability, ranking first among 155 North American participants across all asset types. At the end of the first quarter, the company’s properties were 46% LEED certified and 66% of eligible properties were ENERGY STAR certified. In addition, KRC had approximately 905,000 square feet of office and residential projects under construction with a total estimated investment of approximately $645.0 million. More information is available at http://www.kilroyrealty.com.

Forward-Looking Statements. This press release contains 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. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, among others, risks associated with: investment in real estate assets, which are illiquid; trends in the real estate industry; significant competition, which may decrease the occupancy and rental rates of properties; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired properties; the availability of cash for distribution and debt service and exposure of risk of default under debt obligations; adverse changes to, or implementations of, applicable laws, regulations or legislation; and the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts. These factors are not exhaustive. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2015 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on information that was available, and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent required in connection with ongoing requirements under U.S. securities laws.

Kilroy Realty CorporationTyler H. RoseExecutive Vice Presidentand Chief Financial Officer(310) 481-8484orMichelle NgoSenior Vice Presidentand Treasurer(310) 481-8581

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