Kilroy Realty Corp. has signed a definitive agreement to sell its 750,000-square-foot office property, The Exchange on 16th, in San Francisco, for $1.08 billion.

With a purchase price equating $1,440 per square foot, the agreement is reported to be the highest per-square-foot sales price for a property in the San Francisco commercial real estate market.

The transaction is currently in escrow and is expected to close at the end of March.

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.