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Flower Mart Staying at Development Site

SAN FRANCISCO—Kilroy Realty says its acquisition of the Growers Association will allow for high-rise development, but will not eliminate the market.

By David Phillips | Updated on July 28, 2014

SAN FRANCISCO—Kilroy Realty Corp., which just last week purchased the property where the San Francisco Flower Mart is located, says it will incorporate the market into its development plans there.

Last week Kilroy announced that it had reached a deal to acquire the shares of the San Francisco Flower Growers Association, which owns part of the site. Kilroy will pay $27 million in stock and cash for that acquisition. Plans call for the SOMA site to be developed with two mid-rise buildings totaling 655,000 square feet. But the Flower Market will stay, chairman and CEO John Kilroy told the San Francisco Chronicle.

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