Kilroy Enters Austin Market with $580M Purchase; Strikes Other West Coast Deals

Los Angeles-based Kilroy Realty has entered the Austin market with the acquisition of Indeed Tower for $580 million. The 36-story, 730,000-square-foot office property is LEED-Platinum certified and located in the Austin’s central business district.

Indeed Tower is 57% leased. Indeed.com is the largest tenant in the building, occupying 42% of the property through 2034. Kilroy plans to drive value through the strategic lease up of the property, and there is a lot to offer. The building has 30,000-square-foot floor plates and offers tenants 10,000 square feet of ground floor food and beverage space and 30,000 square feet of outdoor deck space.