Kilroy Realty to Sell The Exchange on 16th for $1.08 Billion
LOS ANGELES--(BUSINESS WIRE)--Kilroy Realty Corporation (NYSE: KRC) today said it has signed a definitive agreement to sell The Exchange on 16th, the company’s 750,000 square-foot office property located at 1800 Owens Street in San Francisco’s Mission Bay neighborhood, for a purchase price of $1.08 billion or approximately $1,440 per square foot. Brokers have reported this as the highest per-square-foot sales price for a major property in the city’s commercial real estate market. The transaction is currently in escrow and expected to close at the end of March.
“This transaction demonstrates that quality assets in quality locations remain highly attractive to buyers and in this ca
