IRVINE, CA—John Kilroy Jr. has learned a thing or two about real estate development in his 47 years in the business. Among them, the chairman, CEO and director of San Francisco-based development firm Kilroy Realty Corp. has learned to recognize how the business has changed, and he shared some of his insights at a recent IREM Orange County Signature Icon luncheon event here.

An overarching theme of Kilroy’s presentation was that people are more important than buildings in real estate. “Eighty percent of today’s companies’ cost structure is people.” he said. “The modern real estate executive and tech clusters view the workplace as, ‘Where do I have to be to attract and retain the best talent?’ ”

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