Kilroy Realty begins construction of Kilroy Oyster Point Phase 2 in California
June 09, 2021 – Kilroy Realty Corporation (KRC) has broken ground on the $940m Kilroy Oyster Point Phase 2 (KOP 2) in South San Francisco, California, the US.
The latest move follows the successful leasing of first phase of the Kilroy Oyster Point, a 50-acre, three million ft2 development.
The second phase of the project will include nearly 860,000ft2 in three buildings ranging seven to eight-storeys.
It will include two standalone buildings featuring conference centre, advanced fitness facility, and many food and beverage options.
KOP 2 will also feature an urban village that includes an outdoor amphitheater, outdoor meeting spaces, an advanced fitness facility, conference center and many food and beverage options.
In 2018, KRC bought the Oyster Point waterfront development to significantly increase its life science activity.
The company also owns three sites in San Diego that are permitted for more than 700,000ft2 of life science development.
It also owns Santa Fe Summit, along the Route 56-Corridor, and 9514 Towne Centre Drive and 4690 Executive Drive in the University Towne Center submarket.
KRC chairman and CEO John Kilroy said: “Our long-term commitment to understand and serve the needs of life science and healthcare tenants is now paying off.
“The industry is experiencing accelerating growth and investment, and its potential impact on large sectors of our global economy is still in its infancy.
“We are in an excellent position to partner with some of the most innovative companies in the life science sector and drive our own growth at KRC for years to come.”