Kilroy Closes Sale of Industrial and Office Properties
Save the date: October 21-22 and be part of the action at CCIM THRIVE, a dynamic event and collaboration between GlobeSt.com and CCIM.
LOS ANGELES-Kilroy Realty Corp., a real estate investment trust based in Los Angeles, has sold its two small office projects and entire industrial portfolio for a total price of $355 million. Two undisclosed institutional buyers purchased the 44 properties totaling 3.7 million square feet located mostly in Orange County. The proceeds from the sale will be reinvested by the REIT into its West Coast office development program.
Kilroy Realty anticipates registering a gain of $185 million in the ongoing quarter. For the full story, go to Los Angeles Business Journal .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Have you been staying up on how industrial is thriving in the age of the internet? Sign up for our Industrial Leader today and get all the breaking news and for delivered weekly.
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.