Kilroy Realty Founder Jim Kilroy Dies at 94

John B. “Jim” Kilroy, Sr. died on Sept. 29 at the age of 94, according to multiple media reports.

Kilroy began his career in the real estate industry in 1947 with the founding of Kilroy Industries, which incorporated five years later. The privately held company focused on serving the defense and aerospace industries after World War II.

It would be the predecessor to stock exchange-listed REIT Kilroy Realty Corp. (NYSE: KRC), which held its initial public offering in 1997. Today, Los Angeles-based Kilroy Realty owns, develops, acquires and manages office and industrial real estate assets on the West Coast.

"Jim Kilroy was a dynamic and spirited innovator who helped lead the way in modernizing real estate investment and development," said Steve Wechsler, president and CEO of NAREIT. "His charm, wit and warmth will be sorely missed."

Kilroy’s son, John Kilroy, Jr., took over as president of Kilroy Industries in 1981 and currently holds the title of CEO and chairman of Kilroy Realty. The elder Kilroy stayed with the company until he retired from his position as chairman of Kilroy Realty in 2013.

The National Sailing Hall of Fame presented John Kilroy, Sr., an avid sailor, with a lifetime achievement award in 2014. 

Kilroy is survived by his wife, Nelly; four children; five stepchildren; 17 grandchildren; and 20 great-grandchildren.