Home Featured Kilroy Realty Leases 35% of Its South San Francisco Development Project

Kilroy Realty Leases 35% of Its South San Francisco Development Project

477
SHARE

Kilroy Realty recently said it has executed an approximately 235,000-square-foot, 12-year lease at its South San Francisco development project, just four months after construction commencement, with Cytokinetics. KRC acquired the approximately 40-acre, fully entitled, waterfront site in June of 2018 and started construction on the first of four phases in March 2019. Phase I consists of three state-of-the-art laboratory and office buildings, an amenity-activated plaza complete with a bleacher style amphitheater, a full service restaurant and bar, and a fitness center. The three buildings are situated at the entrance to the 2.5 million square foot project, are within walking distance to the ferry terminal and are visible from Highway 101. Kilroy Oyster Point Phase I is expected to be delivered in the second half of 2021.

“This is the earliest leasing, prior to delivery, in South San Francisco’s recent history, further demonstrating the strength and velocity of the South San Francisco market,” said John Kilroy, KRC’s chairman and chief executive officer. “The decision by another biotech company to move into the burgeoning Oyster Point Boulevard corridor reflects the attraction of well-located, highly amenitized, best-in-class facilities like Kilroy Oyster Point.”

Phase I was designed by DGA Architects and will be designated LEED Gold. Ongoing infrastructure work, including all new streets, bay trail improvements, pedestrian lanes, sidewalks and utilities are being constructed by Teichert Construction. Phase I is being constructed by Hathaway Dinwiddie Construction. Gregg Domanico of Kidder Matthews represented Cytokinetics.