LOS ANGELES--(BUSINESS WIRE)--
Kilroy Realty Corporation(NYSE: KRC) today announced that
veteran life science real estate professional Tracy Murphy will join
Kilroy Realty Corporation (“KRC”) as Executive Vice President, Life
Science effective July 11, 2016.
At KRC, Ms. Murphy will be responsible for the company’s life science
activities along the West Coast, an area that includes four of the top
ten U.S. life science markets. The company currently has approximately
1.5 million square feet of life science properties either stabilized or
in development and Ms. Murphy will lead the leasing program for these
assets as well as identify and pursue new development and acquisition
opportunities in the San Diego, Los Angeles, San Francisco Bay Area and
greater Seattle markets.
Ms. Murphy was formerly Senior Vice President and West Coast Lead for
BioMed Realty and a member of the Executive Committee. She was
responsible for the strategic objectives for the Western U.S. for
BioMed, including development, acquisitions, leasing and managing a ten
million square foot, $4 billion portfolio. She has worked in the life
science real estate market for 14 years with the last eight years at
BioMed in San Diego. Ms. Murphy successfully signed hundreds of leases
with over 115 different life science companies across the West Coast,
including biotech leaders The J. Craig Venter Institute, Illumina, Human
Longevity, Affymetrix, NovoNordisk, Nanostring, Regulus, Celgene
(formerly Receptos), Halozyme, Vertex and UCSD. Before joining BioMed,
Murphy co-founded the life science practice for Grubb & Ellis where she
educated brokers on the unique real estate needs of life science
companies. Ms. Murphy also serves on the Executive Board of Directors
for BIOCOM.
About Kilroy Realty Corporation. With almost 70 years’
experience owning, developing, acquiring and managing real estate assets
in West Coast real estate markets, Kilroy Realty Corporation (KRC), a
publicly traded real estate investment trust and member of the S&P
MidCap 400 Index, is one of the region’s premier landlords. The company
provides physical work environments that foster creativity and
productivity and serves a broad roster of dynamic, innovation-driven
tenants, including technology, entertainment, digital media and health
care companies.
At March 31, 2016, the company’s stabilized portfolio totaled
13.7 million square feet of office properties, all located in the
coastal regions of greater Seattle, the San Francisco Bay Area, Los
Angeles, Orange County and San Diego. The company is recognized by GRESB
as the North American leader in sustainability, ranking first among
155 North American participants across all asset types. At the end of
the first quarter, the company’s properties were 46% LEED certified and
66% of eligible properties were ENERGY STAR certified. In addition, KRC
had approximately 905,000 square feet of office and residential projects
under construction with a total estimated investment of approximately
$645.0 million. More information is available at http://www.kilroyrealty.com.
Forward-Looking Statements. 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 our current expectations, beliefs and assumptions, and are not
guarantees of future performance. Forward-looking statements are
inherently subject to uncertainties, risks, changes in circumstances,
trends and factors that are difficult to predict, many of which are
outside of our 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 as
predictions of future performance, results or events. 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, which are illiquid; trends in the real estate industry;
significant competition, which may decrease the occupancy and rental
rates of properties; the ability to successfully complete acquisitions
and dispositions on announced terms; the ability to successfully operate
acquired properties; the availability of cash for distribution and debt
service and exposure of risk of default under debt obligations; adverse
changes to, or implementations of, applicable laws, regulations or
legislation; and the ability to successfully complete development and
redevelopment projects on schedule and within budgeted amounts. These
factors are not exhaustive. For a discussion of additional factors that
could materially adversely affect our business and financial
performance, see the factors included under the caption “Risk Factors”
in our annual report on Form 10-K for the year ended December 31, 2015
and our other filings with the Securities and Exchange Commission. All
forward-looking statements are based on information that was available,
and speak only as of the date on which they are made. We assume 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 required in connection
with ongoing requirements under U.S. securities laws.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160531006586/en/
Kilroy Realty Corporation
Tyler H. Rose
Executive Vice
President
and Chief Financial Officer
(310) 481-8484
or
Michelle
Ngo
Senior Vice President and Treasurer
(310) 481-8581
Source: Kilroy Realty Corporation