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Friday, Oct 7, 2022
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Kilroy Realty Acquires Two Office Properties

Kilroy Realty Corp. late Monday said that it acquired two office properties in San Diego and Bellevue, Wash. for nearly $250 million.

The Los Angeles real estate investment trust said it paid about $215 million for Key Center, a 488,000-square-foot complex in Bellevue completed in 2001. The building is 88 percent occupied. In San Diego, the company acquired 10770 Wateridge Circle, a 174,000-square-foot office for $32.7 million. The building, near several other Kilroy properties, is 98 percent occupied.

The deals mark the third and fourth acquisitions Kilroy has made this year. The company said that it is negotiating six other acquisitions that would total roughly $415 million. Four are in Northern California and two in Southern California.

Shares earlier closed down 65 cents, or 1.6 percent, to $39.88 on the New York Stock Exchange.

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