March 18, 2016 Comments Off on Kilroy Assembles More Land for $1.5B Flower Mart in SoMa Views: 466 Bay Area, California News, West

Kilroy Assembles More Land for $1.5B Flower Mart in SoMa

Los Angeles-based Kilroy Realty Corporation (KRC) acquired a 1.75-acre site at 5th and Brannan St. for its $1.5-billion Flower Mart development in San Francisco’s SoMa neighborhood. KRC purchased the site from a private family for approximately $31 million in cash and 867,701 Kilroy Realty, L.P. operating partnership units.

Kilroy plans to develop 2.1-million square feet of mixed-use office, retail and flower mart space. Plans for the project include a dynamic mix of creative office, market hall style retail, and revitalized wholesale flower mart, surrounded by a central public plaza that embodies the rich urban history of the area.

The company now owns a total of approximately seven acres. Kilroy has been working on the land assemblage for several years, and completed the acquisition of the first parcel in late 2014.

Read More at Kilroy Realty

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