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Kilroy Signs 2.6M SF Across West Coast Markets
Los Angeles-based Kilroy Realty Corporation signed roughly 2.6 million square feet of new or renewing leases at rents that are up 15% on a cash basis and 37% on a GAAP basis over the prior leases. Included in this leasing activity are nearly 2.2 million square feet of leases signed through the end of the third quarter, and 415,000 square feet of leases signed in October.
This month, the company signed a long-term lease reportedly with DoorDash for roughly 193,000 square feet of office space in San Francisco’s SoMa district. Also in October, in the San Diego’s Del Mar submarket, two leases were signed, including a 67,000 square foot HQ lease with a publicly-traded life science company and FICO signed an 80,000 square foot renewal that extends the original lease expiration from early 2020 to 2027.
During the third quarter, the company completed two large transactions greater than 80,000 square feet, including 10-year leases with Facebook, Inc. encompassing 85,000 square feet in Bellevue, WA, and a 12-year renewal with Internet Brands for 92,000 square feet in El Segundo, CA.
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*Pictured The Exchange in San Francisco
- ◦Lease
