Los Angeles-based Kilroy Realty Corporation signed new or renewal leases on more than 890,000 square feet of space across the company’s portfolio during the first four months of 2017. Rents on these leases were up 19% on a cash basis, and 36% on a GAAP basis.
This robust leasing activity, in addition to the leases signed in 2016 that have not yet commenced, reduced the company’s 2017 expirations to roughly 355,000 square feet, or less than 3% of total expirations.
Highlights from San Francisco, Los Angeles, San Diego and Seattle markets include:
- App/Dynamics’ 67,000-square-foot lease renewal and expansion at 303 Second St. in San Francisco, bringing commitment to nearly 150,000 square feet
- App/Dynamics also took 157,000 square feet at multiple Kilroy properties across the San Diego region
- Riot Games more than doubled position at Westside Media Center in Los Angeles
- Expedia’s 112,000-square-foot lease renewal at Skyline Tower in Bellevue, WA
For comments, questions or concerns, please contact Dennis Kaiser