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Kilroy Acquires S. San Francisco Lab, Office Project for $111M
Kilroy Realty Corporation acquired Oyster Point Tech Center, a 146,000-square-foot laboratory and office project in South San Francisco for roughly $111 million. The Los Angeles-based REIT bought the asset from Multi-Employer Property Trust, a Bentall Kennedy open-end commingled real estate equity fund.
The project is comprised of three, two-story buildings at 345-349 Oyster Point Blvd., and is approximately 80% leased. Two-thirds of the project is leased to Laboratory Corp. of America Holdings, and is also home to DNA testing company 23andMe Inc.
Kilroy Realty’s John Kilroy says, “This acquisition represents an attractive, off-market opportunity to establish a presence in the premier West Coast life science market while generating strong returns.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


