Kilroy Realty says signed 520K sq. ft. of new or renewing leases quarter to date

Kilroy Realty “announced that it has signed approximately 520,000 square feet of new or renewing leases quarter to date, including approximately 400,000 square feet signed in November. Included in our November activity are two Bay Area leases signed for a combined 210,000 square feet to a Fortune 500 technology company and a highly regarded international law firm. Year-to-date office and life science leasing now totals approximately 1.3 million square feet, of which more than 50% are with new tenants. Average rents are approximately flat on a cash basis and up 15% on a GAAP basis over the prior leases. Catalyzed by a strong finish to the year, Kilroy is entering 2024 with average lease expirations of approximately 8.5% annually through 2026.”