Kilroy Realty Announces Management Change in its Life Science Leadership

LOS ANGELES–Kilroy Realty Corporation (NYSE: KRC) today announced that Tracy Murphy, Kilroy Realty’s Executive Vice President, Life Science, has resigned. Ms. Murphy joined the company in 2016 and is leaving KRC to pursue other opportunities.

“We brought Tracy on to build and expand our life science platform on the West Coast. We have executed on that plan and remain fully committed to the space,” said John Kilroy, Kilroy Realty’s Chairman and Chief Executive Officer. “Our life science assets, including our two under construction development projects, are currently 100% leased or in lease negotiations. Although Tracy is leaving, we have a very capable team and we will continue to execute on our strategy to expand our life science business.”

About Kilroy Realty Corporation. 

Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the West Coast’s premier landlords. The company has over 70 years of experience developing, acquiring and managing office and mixed-use real estate assets. The company provides physical work environments that foster creativity and productivity and serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.

At June 30, 2019, the company’s stabilized portfolio totaled approximately 13.5 million square feet of office space located in the coastal regions of Los Angeles, Orange County, San Diego, the San Francisco Bay Area and Greater Seattle and 200 residential units located in the Hollywood submarket of Los Angeles. The stabilized portfolio was 93.8% occupied and 97.2% leased. In addition, KRC had five projects under construction totaling approximately 2.1 million square feet of office space that were 55% leased and 801 residential units. KRC also had two projects in the tenant improvement phase, The Exchange on 16th, totaling approximately 750,000 square feet, with the office space fully leased to Dropbox, and 96,000 square feet of retail at One Paseo, which was 94% leased.

The company’s commitment and leadership position in sustainability has been recognized by various industry groups across the world. In September 2018, the company was recognized by GRESB both as North American leader across all asset classes and a global leader among all publicly traded real estate companies. Other sustainability accolades include NAREIT’s Leader in the Light award for the past five years, the EPA’s highest honor of Sustained Excellence and winner of ENERGY STAR Partner of the Year for the past six years. The company is listed in the Dow Jones Sustainability World Index. At the end of the second quarter, the company’s stabilized portfolio was 59% LEED certified and 75% of eligible properties were ENERGY STAR certified.

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