Kilroy

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Press Room Release

Kilroy Realty Corporation Lays Groundwork For San Diego’s Newest Technolgoy Mecca

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Location, Flexibility and Amenities

Lure High-Tech Companies to Sorrento Gateway

San Diego – Kilroy Realty Corporation (NYSE: KRC) has begun development of one of San Diego’s premiere build-to-suit office communities located in the heart of Sorrento Mesa’s technology community. Strategically positioned just off of Interstate 805 and Mira Mesa Blvd., Sorrento Gateway comprises more than 32 net acres with nine lots ranging from 2.8 acres to approximately 13 acres. Already home to software giant, Epicor Software Corporation (formerly Platinum Software), this upscale environment is expected to attract key industries such as research and development, wireless telecommunications, software development as well as corporate headquarters.

"The Sorrento Mesa area is one of the fastest growing submarkets in the North County because of its high-tech environment that attracts employees and employers," said Steve Scott, senior vice president, KRC. "In addition to the area’s general business and technical environment, companies have access to world-class research and educational facilities, executive housing, fine dining and shopping as well as recreational opportunities that are not as readily available in other areas."

As one of the strongest developers within the North County regions, with more than six other development sites in the north coastal San Diego County, Kilroy has been able to expand its market leadership position by developing state-of-the-art facilities to the fast-growing technology-based and professional services businesses, including Comstream, Pacific Bell, Intuit and the nationally recognized law firm of Brobeck, Phleger & Harrison.

Meeting User Needs

Companies locating to Sorrento Gateway have a range of opportunities to develop an office project to suit their specialized needs. The site can accommodate offices from 75,000 to 300,000 square-feet in two to four-story structures.

Epicor Software Corporation’s regional headquarters is the first build-to-suit currently under development. Construction for the two-building 172,778-square-foot office complex is expected to be completed in August 1999. The facility on Wateridge Vista Drive will be the home for the Irvine-based company's new software and engineering operation in San Diego and an estimated 250 jobs.

"When looking to establish our regional headquarters, we found Sorrento Gateway attractive because of Kilroy’s expertise in designing build-to-suits, especially those requiring such intricate technology systems as ours," said Norm Farquhar, executive vice president/chief financial officer, Epicor Software. "Sorrento Gateway is a quality office park with unique offerings, including immediate freeway access, visibility and nearby proximity to downtown and the airport."

Upon completion, the Sorrento Gateway office environment will reflect a sophisticated corporate, yet comfortable, park-like setting, featuring enhanced slate and granite feature walls and lot entry along with accent palm trees to identify each corporate resident as well as create an attractive identifying theme throughout the business park. Tenants will also be able to take advantage of the areas exclusive shopping centers, restaurants and hotels.

The brokers for Sorrento Gateway are Brian Driscoll and Eric Northbrook of Colliers International. Kilroy Realty Corporation is a Southern California-based real estate investment trust active in the commercial office and industrial property sectors. Principal submarkets for the company’s development projects include San Diego, Los Angeles, Long Beach and Orange County where the company has a development pipeline exceeding $500 million. At March 31, 1999, the company owned 5.7 million square feet of commercial office space and 6.2 million square feet of industrial space.