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IRVINE, CA-Kilroy Realty Corp. of Los Angeles has closed on its previously reported deal to acquire 271,556-square-foot 2211 Michelson Dr. office building from Hines and Crescent Real Estate Equities for $103.2 million. The 12-story multi-tenant building was developed by Hines in 2007, and has been managed and leased by Hines since then. Kilroy will now take over those responsibilities for the property.

According to Hines vice president Paul Twardowski, the sale enhances Hines’ capacity to reinvest in Orange County. “We are already actively pursuing new acquisitions,” he says.

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