Intuit Exercises Option to Lease Fourth Kilroy Realty Building at Santa Fe Summit Phase I Campus; Intuit Also Extends Lease at Governor Park Property
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LOS ANGELES--(BUSINESS WIRE)--Nov. 1, 2005--Kilroy Realty Corporation (NYSE: KRC) today said that Intuit Inc. (NASDAQ:INTU) has exercised its option to lease the fourth building at Kilroy Realty's four building, 466,000 square foot Santa Fe Summit Phase I office campus along the new State Route 56 Freeway in San Diego, California. In March, Kilroy Realty signed a ten-year lease with Intuit for three buildings totaling 365,000 square feet. With the exercise of the option, Intuit will lease all four buildings for ten years upon their completion in the fall of 2007.
Kilroy Realty also announced today that it has signed a two-year lease extension with Intuit for a 71,000 square foot office property located at 6215 Greenwich Drive in the Governor Park submarket of San Diego that Intuit has occupied since it was completed in 1999. The lease now expires on August 31, 2009.
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. Kilroy Realty currently has an in-process development pipeline of approximately 644,000 square feet of office space in San Diego County. At September 30, 2005, the company owned 7.8 million rentable square feet of commercial office space and 4.7 million rentable square feet of industrial space. More information is available at www.kilroyrealty.com.