REIT focused on owning, developing, acquiring, and managing office and mixed-use real estate assets along the West Coast.
Kilroy Realty Corporation (NYSE: KRC), known as KRC, stands as a prominent figure in the real estate sector along the West Coast of the United States. With substantial holdings in key markets such as San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest, KRC is renowned globally for its commitment to sustainability, innovative building practices, and cutting-edge design. This reputation underscores its pivotal role in shaping modern business environments that foster creativity, boost productivity, and enhance employee retention. KRC caters primarily to leading firms in technology, entertainment, life sciences, and business services.
As a publicly traded real estate investment trust (REIT) and a constituent of the S&P MidCap 400 Index, KRC boasts over seventy years of experience in developing, acquiring, and managing office and mixed-use projects. As of September 30, 2020, the company's stabilized portfolio encompassed approximately 14.3 million square feet, primarily comprising office and life science spaces. Impressively, these properties boasted a 92.2% occupancy rate and a 95.5% lease rate, reflecting KRC's robust operational efficiency and strategic tenant management.
In addition to its extensive portfolio, KRC oversees 808 residential units located in Hollywood and San Diego, achieving average occupancy rates of 85.0% and 37.5%, respectively. The company is also actively engaged in advancing its growth trajectory through seven ongoing development projects. These ventures represent a collective investment of $1.9 billion and are set to deliver approximately 2.3 million square feet of new office and life science spaces, currently 90% pre-leased.
With its steadfast commitment to sustainable practices, operational excellence, and forward-thinking development initiatives, Kilroy Realty Corporation continues to play a pivotal role in defining the future of commercial and residential real estate across the West Coast and beyond.