Kilroy Realty Corporation has further expanded its Austin, TX portfolio with the $40 million off-market acquisition of a 2.9-acre development site in Austin’s Domain submarket. The site is fully entitled for approximately 493,000 square feet of new Class A office development. The transaction represents the company’s ongoing expansion within the Austin market, following last year’s purchase of Indeed Tower.

The site is located near the intersection of Burnett & Braker and is adjacent to Austin’s Q2 MLS Stadium, the Domain Mall, and the future McKalla light rail stop which will connect from Northwest Austin through Downtown.

Fernando Urrutia Joins Kilroy Realty as Senior Vice President where he will oversee the company’s leasing activity and assist in growing the local portfolio. Prior to Kilroy, he spent 11 years with Lionstone Investments where he covered Austin and other markets in Texas. He had several roles at Lionstone across acquisitions, leasing, and asset management. Most recently he served as Vice President of Acquisitions for the Texas region.