Exclusive Q&A: Kilroy's Rick Buziak On The Future Of Real Estate
Kilroy Realty is on the forefront of developing and managing properties specifically tailored to the needs of tech tenants. We’re excited to have Kilroy SVP Rick Buziak as one of our speakers at Bisnow’s Future of Real Estate event April 28 at Hotel Nikko.
We caught up with Rick to talk about his company’s 2016 priorities and what clients need from workspaces.
Bisnow: Where is Kilroy focused in 2016?
Rick Buziak: Our focus in 2016 is no different than any other year: staying close to our customers and providing them with the work environment that adds value to their business. We also think it’s important to be good partners in the communities in which our assets are located. This is reflective not only in our development projects, but also in renovations of our existing projects and spaces.
Bisnow: What are some new design initiatives that are getting a good response from tech clients?
Rick Buziak: Generally speaking, our tech clients today are focused on their culture and the bottom line. The Bay Area is a melting pot of tech companies and each one is different, so depending on who we’re talking to the needs vary. The direction continues towards open and creative spaces, but uses seem to be changing on a micro-level.
Bisnow: What's in store for tech-focused real estate in the next few years?
Rick Buziak: Commercial real estate, particularly in the S.F. Bay area, will respond to what our clients need, which is largely influenced by the environment. It’s been building over time, but particularly in the past few years, the Bay Area has hit critical mass for housing and transportation. For our customers, who are sharply focused on recruiting and retaining talent, this affects their decision-making as they consider how their employees will interact with the community, their customers and simply get to work. There are many other factors too, but the development climate is uncertain in S.F. particularly as it relates to Prop M and other regulatory restrictions.