Kilroy Realty Leases San Diego Office Building to Qualcomm
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LOS ANGELES, Apr 12, 2012 (BUSINESS WIRE) --Kilroy Realty Corporation (NYSE: KRC) announced today that it has leased 10445 Pacific Center Court in the Sorrento Mesa submarket of San Diego to Qualcomm for a five year and five month term. The 48,709 square foot building was previously occupied by CareFusion through mid-February 2012. The new full-building lease with Qualcomm is expected to commence in the third quarter of 2012 following the completion of tenant improvement work. The lease expands Kilroy Realty's relationship with Qualcomm, which now leases over 116,000 square feet of space from the company in Sorrento Mesa, San Diego's largest technology submarket.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on KRC's current expectations, beliefs and assumptions, and are not guarantees. Forward-looking statements are subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of KRC's control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, among others: risks associated with investment in real estate assets and trends in the real estate industry; increased competition; changes in general economic conditions, government regulations; casualty losses and the ability to successfully complete improvements on schedule and within budgeted amounts. The factors included in this press release are not exhaustive. For a discussion of additional risk factors that could adversely affect KRC's business and financial performance, see the factors included under the caption "Risk Factors" in KRC's annual report on Form 10-K for the year ended December 31, 2011, and KRC's other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. KRC assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws.
Kilroy Realty Corporation, a member of the S&P Small Cap 600 Index, is a real estate investment trust active in premier office and industrial submarkets along the West Coast. For over 60 years, the company has owned, developed, acquired and managed real estate assets, consisting primarily of Class A real estate properties in the coastal regions of Los Angeles, Orange County, San Diego, greater Seattle and the San Francisco Bay Area. At December 31, 2011, the company owned 11.4 million rentable square feet of commercial office space and 3.4 million rentable square feet of industrial space. More information is available at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.kilroyrealty.com&esheet=50232793&lan=en-US&anchor=www.kilroyrealty.com&index=1&md5=c4c06458dffe61467efd32f486dbb906.
SOURCE: Kilroy Realty Corporation
Kilroy Realty Corporation