Kilroy Realty to Develop Premier Silicon Valley Office Project for Professional Network LinkedIn
2012年12月20日 - 6:00AM
ビジネスワイヤ(英語)
Kilroy Realty Corporation (NYSE: KRC) today announced
that it has acquired a fully entitled, 12-acre land site in
Sunnyvale, California where it will develop, own and manage a
587,000-square-foot office complex for LinkedIn Corporation,
operator of the world’s largest professional network on the
internet, under a 12-year lease agreement.
KRC will invest approximately $315 million to develop a
state-of-the-art office project, which will feature three mid-rise
Class A office buildings and a parking structure, all designed and
pre-certified to meet LEED silver requirements. The development is
located along two major arteries, Maude and Mathilda Avenues,
bisecting Sunnyvale and just one mile from Caltrain, providing both
high visibility in this prominent Silicon Valley submarket and
convenient access to multiple forms of transportation, including
the nearby Central Expressway. Sunnyvale, with a Class A total
vacancy rate of less than 5%, is a highly sought after location for
tenants seeking to cluster around major technology firms, including
Apple, Yahoo!, AMD and now, LinkedIn.
KRC expects to complete the LinkedIn complex in the second half
of 2014 adding to the company’s under construction Bay Area
development pipeline, which now includes four projects aggregating
approximately 1.5 million square feet. The four projects represent
a total estimated investment of approximately $800 million and are
all 100% pre-leased to leading technology companies, including
salesforce.com, Synopsys, and Audience, in addition to
LinkedIn.
“We’re delighted to partner with LinkedIn in the creation of a
new LEED-certified office facility,” said John Kilroy, Jr., KRC’s
president and chief executive officer. “This is another opportunity
for us to create significant value for our shareholders through the
development of the highest quality real estate at superior
returns.”
Eli Khouri, KRC’s chief investment officer, said: “This
transaction is the fourth of its kind in 2012 where KRC has agreed
to develop, from the ground up, new state-of-the-art buildings for
leading technology companies in the Bay Area. These types of
opportunities have arisen from KRC’s strategy of acquiring superior
locations in the best submarkets where we can offer superb space to
the region’s premier tenants.”
“We were highly impressed with all the professionals we dealt
with at LinkedIn, and we look forward to our continued
collaboration in delivering their new office location,” said Mike
Sanford, senior vice president and head of KRC’s northern
California region.
Sherman Chan and Bob Steinbock, both senior vice presidents at
CBRE, acted as investment brokers in the transaction.
About Kilroy Realty Corporation. Kilroy Realty
Corporation, a member of the S&P Small Cap 600 Index, is a real
estate investment trust active in the office property sector along
the West Coast. For over 60 years, the company has owned,
developed, acquired and managed real estate assets primarily in the
coastal regions of Los Angeles, Orange County, San Diego, greater
Seattle and the San Francisco Bay Area. At September 30, 2012, the
company's stabilized office portfolio encompassed 12.7 million
rentable square feet. 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, 2011 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
Federal securities laws.
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