AMN Healthcare Services Expands Relationship With Kilroy Realty, Selecting It to Build Headquarters in Del Mar; 170,000 SF Office Lease is Largest in San Diego in 3 Years
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SAN DIEGO--(BUSINESS WIRE)--April 17, 2002--San Diego-headquartered AMN Healthcare Services, Inc. (NYSE:AHS) has signed a new lease with Kilroy Realty Corporation (NYSE:KRC), the leading developer in the North San Diego market, for the majority of the space in Kilroy Realty's planned 6-story, 209,000-square-foot class "A" office building at 12400 High Bluff Drive in Del Mar.
The 170,000-square-foot office lease is the largest in San Diego County in the past three years. Further, it is the third major lease in 2002 for buildings in Kilroy Realty's San Diego development pipeline and reflects the strong diversity of the San Diego market as well as its rebounding economy, said John Kilroy, Jr., president and chief executive officer of Kilroy Realty.
AMN will consolidate its current 500 employees from five San Diego locations into its new headquarters. This premier office facility within the Del Mar submarket will provide AMN with 5:1000 parking ratio (75% covered), outdoor seating and meeting areas, large efficient and flexible floor plates, I-5 freeway visibility, state of the art HVAC system and a totally wired internal network. The design is a collaboration between award-winning HKS Architects and Hanna Gabriel Wells of San Diego.
"Having our headquarters team under one roof will be a terrific advantage in terms of improved communications, efficiencies and productivity," said Steven Francis, president and chief executive officer of AMN. "Kilroy Realty has been providing us office space for several years so we know the people, their integrity and professionalism, and are confident of their ability to understand our unique operational metrics and provide us with the best solution."
Kilroy noted that the company's San Diego team pulled the transaction together under challenging time constraints in order to meet AMN's schedule. "Because we are so well positioned in North San Diego with exceptional properties that are fully entitled, coupled with our financial resources and our ability to execute quickly and professionally, we are able to meet the needs and timing of growing companies like AMN," he said.
"AMN is the prototype of the innovative, growing companies for whom Kilroy Realty develops corporate headquarters. Our mission is to build well thought-out workplace environments that are flexible and efficient yet are designed to attract and retain quality staff for these companies," said Steve Scott, senior vice president of Kilroy Realty.
Groundbreaking for the AMN headquarters is expected to start in June with completion and move-in slated for August 2003, said Jim Edwards, Kilroy Realty project manager.
Reno Contracting will serve as general contractor. Robert Jones and David Marino of Irving Hughes represented AMN in the transaction. Kilroy Realty was represented by Rick Reeder and David Odmark of Business Real Estate Brokerage.
A leading owner/operator and developer of office and industrial space for innovative, knowledge-based companies in San Diego, Kilroy Realty has completed major facilities for Applied Micro Circuits Corp., Ericsson, biotech leader Diversa Corp. and software leader Peregrine Systems, Inc. Kilroy Realty owns and manages 3 million square feet in San Diego that was 100 percent occupied at December 31, 2001 with 1.8 million square feet in the pipeline in the Sorrento Mesa, Del Mar and Carmel Mountain Ranch submarkets.
About Kilroy Realty
Kilroy Realty Corporation, a member of the S&P Small Cap 600 Index, is a Southern California-based real estate investment trust active in the office and industrial property sectors. For more than 50 years, the company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of California and Washington. Principal submarkets for KRC's current development program include West Los Angeles, El Segundo and coastal San Diego. At December 31, 2001, the company owned 7.2 million square feet of commercial office space and 5.1 million square feet of industrial space. More information can be found at www.kilroyrealty.com.
About AMN Healthcare
AMN Healthcare Services, Inc. is the largest nationwide provider of travel healthcare staffing services. The company recruits nurses and allied health professionals nationally and internationally and places them on temporary assignments, typically for 13 weeks, at acute-care hospitals and healthcare facilities throughout the United States. More information available at www.amnhealthcare.com.CONTACT:
Kilroy Realty Corporation
Richard E. Moran Jr., (310) 563-5533
Tyler H. Rose, (310) 563-5531