Life Science Real Estate a “Natural Extension” of Kilroy Realty’s Portfolio

John Kilroy, chairman, president, and CEO of Kilroy Realty Corp. (NYSE: KRC), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.

Kilroy discussed how the REIT’s portfolio is centralized along the West Coast and noted he has seen exceptional rental growth and demand there, with rents increasing 15 to 20% over the past year.

Kilroy also discussed a new San Francisco asset, Kilroy Oyster Point, an anticipated $600 million investment. He said that it fits with Kilroy Realty’s portfolio because life science is a natural extension of what the REIT is already doing.

“We’re already the biggest public company developer on the West Coast,” Kilroy said, adding that the REIT is in San Diego, San Francisco, and Seattle, three of the four largest life science markets, “in a big way.”

Turning to sustainability, Kilroy said that Kilroy Realty will be carbon neutral by 2020.