Kilroy Realty Set to Launch Construction on Additional Half Million Square Feet of Office Space in the San Francisco Bay Area
2013年11月12日 - 8:29AM
ビジネスワイヤ(英語)
Company Breaks Ground on Crossing/900 Campus
in Redwood City; Receives Green Light to Build Contemporary Brick
and Concrete Office Project at 333 Brannan Street in San
Francisco’s SOMA District
Kilroy Realty Corporation (NYSE: KRC) will boost its Bay
Area construction pipeline to more than 1.8 million square feet
with new office-project starts in downtown Redwood City and the
brick and timber commercial neighborhood of Brannan Street in the
city’s booming SOMA district. More than 1.3 million square feet of
the company’s Bay Area construction pipeline is pre-leased.
Crossing/900. KRC held a groundbreaking ceremony last
week for this two-building, mid-rise office campus located in
Redwood City’s increasingly urbanized downtown area. The new
300,000-square-foot project is located steps away from the city’s
Caltrain station and conveniently close to the two major freeways
serving the region and San Francisco International Airport. It is
also within walking distance of abundant retail, dining and
entertainment amenities as well as over a thousand residential
units under construction. The project, designed by Korth Sunseri
Hagey, represents a key component in the city’s plan to attract new
businesses and residents to the downtown area and expand its role
as a major employment and residential hub in the Silicon
Valley.
Crossing/900 is a LEED Gold certified development project that
will feature large open floor plates, forward-looking designs,
outdoor plaza areas, abundant parking and up-sized base building
features thereby allowing greater densities that are highly
desirable among today’s modern workforce. “The project will serve
the burgeoning knowledge-based industries in this region that
currently has very limited options for new office space, especially
near Caltrain,” said Mike Sanford, KRC’s Senior Vice President,
Northern California. KRC expects to complete construction on the
project in 2015.
333 Brannan Street. Earlier this month, KRC received site
approval for the construction of a modern 170,000-square-foot,
six-level, brick and concrete office building at this 0.82-acre
site located in one of San Francisco’s most popular technology and
media corridors. Designed by William McDonough, a leading proponent
of sustainable architecture, 333 Brannan Street will be a LEED
Platinum+ certified project and one of the most eco-friendly,
greater than two-story office buildings built to-date in
California. The building capitalizes on the charm of the historical
area with contemporary and state of the art sustainable features,
including large, highly efficient floor plates designed for higher
density users, expansive public spaces, a panoramic roof deck and
an on-site restaurant. 333 Brannan is surrounded by dozens of cafes
and restaurants, is in close proximity to AT&T Park, Caltrain,
and BART, and is also adjacent to KRC’s 250 Brannan Street and 301
Brannan Street properties. The company expects to complete
construction on the project in 2015.
With these two starts, KRC has now expanded its Bay Area
construction portfolio by nearly 500,000 square feet. The company
is also currently building new corporate campuses for LinkedIn and
Synopsys in the Silicon Valley, and a new office tower at 350
Mission Street in downtown San Francisco for Salesforce.com. KRC
recently completed an 88,000-square-foot office project for
Audience Inc. in Mountain View.
“The transformation that has taken place over the past several
years in the way tenants use office space and the recognition that
location and quality of the environment is essential in attracting
and retaining employees is profound. Just as we have transformed
our core portfolio with the assets we’ve acquired and renovated
where appropriate, we are focused on developing market leading
facilities,” said John Kilroy, Jr., KRC’s chairman, president and
CEO.
About Kilroy Realty Corporation. Kilroy Realty
Corporation, a member of the S&P MidCap 400 Index, is a real
estate investment trust active in major West Coast office markets.
For over 65 years, the company has owned, developed, acquired and
managed real estate assets primarily in the coastal regions of Los
Angeles, Orange County, San Diego, the San Francisco Bay Area and
greater Seattle. At September 30, 2013, the company owned 12.5
million rentable square feet of commercial office space. 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, 2012 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) 481-8484orMike L.
SanfordSenior Vice President, Northern California(415) 778-5678
office(650) 888-2228 cell
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